CIT v. Shri T.P. Textiles (P.) Ltd.

394 ITR 483High Court2017#1561 most cited

What is CIT v. Shri T.P. Textiles (P.) Ltd. authority for?

An assessee is entitled to claim the balance 10% of additional depreciation in the succeeding assessment year if the new plant and machinery were put to use for less than 180 days in the previous year.

73

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2018 to 2025.

Also referred to as

CIT v. Shri T.P. Textiles · section 32(1)(iia) · additional depreciation · less than 180 days · balance depreciation · succeeding assessment year · Madras High Court

Also reported as

246 Taxmann 324

Sections most often in play

Section 143(1)Section 32(1)(iia)Section 143(3)Section 32(1)Section 115JBSection 132(4)Section 133ASection 142(2A)

Issues it is cited on

section 2(15a)section 17(2)(iiia)section 32(1)(iia)profit split methodsection 92ca(4)section 17(2)comparable uncontrolled price methodcost plus methodadditional depreciationsection 80hinterest on interestsection 43a

Judgments citing CIT v. Shri T.P. Textiles (P.) Ltd.

Wheels India Ltd., Chennai vs. DCIT Large Tax Payer Umit-1, Chennai

In the result, appeals filed by the revenue for assessment years 2013-14 & 2014-15 are dismissed

ITA 1604/CHNY/2019[2013-14]Status: DisposedITAT Chennai08 Mar 2023AY 2013-14

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1604 & 1605/Chny/2019 िनधा"रण वष" / Assessment Years: 2013-14 & 2014-15

For Respondent: Shri. S. Senthil Kumaran, CIT
Section 14ASection 35

…lowable. The ld. CIT(A), after considering relevant :-23-: ITA. Nos:1604,1605, 1696 & 1697/Chny/2019 facts and also by following the decision of Brakes India Ltd vs DCIT (supra), and also the decision in the case of CIT vs TP Textiles Private Limited [2017] 394 ITR 483, deleted additions made by the AO and thus, we are inclined to uphold the findings of the Ld.CIT(A) and reject ground taken by the revenue for both assessment years. 26. The next issue that came up for our consideration from ground no. 3 of revenue’s appeal for both assessment years is depreciation on UPS @ 60% as against 15% allowed by the AO.…

Birla Corporation Limited, Kolkata vs. DCIT, Cir.-6(1), Kolkata

In the result, appeals filed by the Revenue for AYs 2013-14 &

ITA 497/KOL/2020[2014-15]Status: DisposedITAT Kolkata07 Feb 2023AY 2014-15

Bench: Sri Rajpal Yadav & Dr. Manish Borad

Section 115JSection 143(3)Section 14ASection 250Section 80I

…and 2010-11 were passed after taking into consideration the judgment of the Hon’ble Karnataka High Court in CIT v. Rittal India (P) Limited, (2016) 380 ITR 423 (Karn). Subsequently, the Hon’ble Madras High Court in CIT vs. Shri T.P. Textiles (P.) Ltd., [2017] 394 ITR 483 (Mad) [Page 1 at Pp 4-8 of Compilation of Case Laws] has agreed with the Hon’ble Karnataka High Court. The issue is thus covered in favour of the assessee. We find that this Tribunal in assessee’s own case for AY 2010-11 dealt with this issue and decided in assessee’s favour observing as follows: “52. Aggrieved by the order of CIT(A) the assessee…

Birla Corporation Limited, Kolkata vs. DCIT Cir.-6(1), Kolkata

In the result, appeals filed by the Revenue for AYs 2013-14 &

ITA 496/KOL/2020[2013-14]Status: DisposedITAT Kolkata07 Feb 2023AY 2013-14

Bench: Sri Rajpal Yadav & Dr. Manish Borad

Section 115JSection 143(3)Section 14ASection 250Section 80I

…and 2010-11 were passed after taking into consideration the judgment of the Hon’ble Karnataka High Court in CIT v. Rittal India (P) Limited, (2016) 380 ITR 423 (Karn). Subsequently, the Hon’ble Madras High Court in CIT vs. Shri T.P. Textiles (P.) Ltd., [2017] 394 ITR 483 (Mad) [Page 1 at Pp 4-8 of Compilation of Case Laws] has agreed with the Hon’ble Karnataka High Court. The issue is thus covered in favour of the assessee. We find that this Tribunal in assessee’s own case for AY 2010-11 dealt with this issue and decided in assessee’s favour observing as follows: “52. Aggrieved by the order of CIT(A) the assessee…

DCIT, Circle - 6(1), Kolkata vs. M/S. Birla Corporation Ltd., Kolkata

In the result, appeals filed by the Revenue for AYs 2013-14 &

ITA 2143/KOL/2018[2014-15]Status: DisposedITAT Kolkata07 Feb 2023AY 2014-15

Bench: Sri Rajpal Yadav & Dr. Manish Borad

Section 115JSection 143(3)Section 14ASection 250Section 80I

…and 2010-11 were passed after taking into consideration the judgment of the Hon’ble Karnataka High Court in CIT v. Rittal India (P) Limited, (2016) 380 ITR 423 (Karn). Subsequently, the Hon’ble Madras High Court in CIT vs. Shri T.P. Textiles (P.) Ltd., [2017] 394 ITR 483 (Mad) [Page 1 at Pp 4-8 of Compilation of Case Laws] has agreed with the Hon’ble Karnataka High Court. The issue is thus covered in favour of the assessee. We find that this Tribunal in assessee’s own case for AY 2010-11 dealt with this issue and decided in assessee’s favour observing as follows: “52. Aggrieved by the order of CIT(A) the assessee…

DCIT, Circle - 6(1), Kolkata vs. M/S. Birla Corporation Ltd., Kolkata

In the result, appeals filed by the Revenue for AYs 2013-14 &

ITA 2142/KOL/2018[2013-14]Status: DisposedITAT Kolkata07 Feb 2023AY 2013-14

Bench: Sri Rajpal Yadav & Dr. Manish Borad

Section 115JSection 143(3)Section 14ASection 250Section 80I

…and 2010-11 were passed after taking into consideration the judgment of the Hon’ble Karnataka High Court in CIT v. Rittal India (P) Limited, (2016) 380 ITR 423 (Karn). Subsequently, the Hon’ble Madras High Court in CIT vs. Shri T.P. Textiles (P.) Ltd., [2017] 394 ITR 483 (Mad) [Page 1 at Pp 4-8 of Compilation of Case Laws] has agreed with the Hon’ble Karnataka High Court. The issue is thus covered in favour of the assessee. We find that this Tribunal in assessee’s own case for AY 2010-11 dealt with this issue and decided in assessee’s favour observing as follows: “52. Aggrieved by the order of CIT(A) the assessee…

Birla Corporation Ltd., Kolkata vs. DCIT, Cir.-6(1), Kolkata

In the result, appeals filed by the Revenue for AYs 2011-12 &

ITA 495/KOL/2020[2012-13]Status: DisposedITAT Kolkata31 Oct 2022AY 2012-13

Bench: Sri Rajpal Yadav & Dr. Manish Borad

Section 143(3)Section 250Section 37(1)Section 40Section 43B

…आयकर अपीलीय अधिकरण कोलकाता 'बी' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘B’ BENCH, KOLKATA श्री राजपाल यादव, उपाध्यक्ष (कोलकाता क्षेत्र) एवं डॉ. मनीष बोरड, लेखा सदस्य के समक्ष Before SRI RAJPAL YADAV, VICE PRESIDENT & DR. MANISH BORAD, ACCOUNTANT MEMBER I.T.A. Nos.: 494 & 495/Kol/2020 Assessment Years: 2011-12 & 2012-13 Birla Corporation Limited…....................................Appellant [PAN: AABCB 2075 J] Vs. DCIT, Circle-6(1), Kolkata.....................................Respondent I.T.A. Nos.: 2111 & 2112/Kol/2018 Assessment Years: 2011-12 & 2012-13 DCIT, Circle-6(1), Kolkata….........…

Birla Corporation Limited, Kolkata vs. DCIT, Cir-6(1), Kolkata

In the result, appeals filed by the Revenue for AYs 2011-12 &

ITA 494/KOL/2020[2011-12]Status: DisposedITAT Kolkata31 Oct 2022AY 2011-12

Bench: Sri Rajpal Yadav & Dr. Manish Borad

Section 143(3)Section 250Section 37(1)Section 40Section 43B

…आयकर अपीलीय अधिकरण कोलकाता 'बी' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘B’ BENCH, KOLKATA श्री राजपाल यादव, उपाध्यक्ष (कोलकाता क्षेत्र) एवं डॉ. मनीष बोरड, लेखा सदस्य के समक्ष Before SRI RAJPAL YADAV, VICE PRESIDENT & DR. MANISH BORAD, ACCOUNTANT MEMBER I.T.A. Nos.: 494 & 495/Kol/2020 Assessment Years: 2011-12 & 2012-13 Birla Corporation Limited…....................................Appellant [PAN: AABCB 2075 J] Vs. DCIT, Circle-6(1), Kolkata.....................................Respondent I.T.A. Nos.: 2111 & 2112/Kol/2018 Assessment Years: 2011-12 & 2012-13 DCIT, Circle-6(1), Kolkata….........…

DCIT, Circle - 6(1), Kolkata vs. M/S. Birla Corporation Ltd., Kolkata

In the result, appeals filed by the Revenue for AYs 2011-12 &

ITA 2112/KOL/2018[2012-13]Status: DisposedITAT Kolkata31 Oct 2022AY 2012-13

Bench: Sri Rajpal Yadav & Dr. Manish Borad

Section 143(3)Section 250Section 37(1)Section 40Section 43B

…आयकर अपीलीय अधिकरण कोलकाता 'बी' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘B’ BENCH, KOLKATA श्री राजपाल यादव, उपाध्यक्ष (कोलकाता क्षेत्र) एवं डॉ. मनीष बोरड, लेखा सदस्य के समक्ष Before SRI RAJPAL YADAV, VICE PRESIDENT & DR. MANISH BORAD, ACCOUNTANT MEMBER I.T.A. Nos.: 494 & 495/Kol/2020 Assessment Years: 2011-12 & 2012-13 Birla Corporation Limited…....................................Appellant [PAN: AABCB 2075 J] Vs. DCIT, Circle-6(1), Kolkata.....................................Respondent I.T.A. Nos.: 2111 & 2112/Kol/2018 Assessment Years: 2011-12 & 2012-13 DCIT, Circle-6(1), Kolkata….........…

DCIT, Circle - 6(1), Kolkata vs. M/S. Birla Corporation Ltd., Kolkata

In the result, appeals filed by the Revenue for AYs 2011-12 &

ITA 2111/KOL/2018[2011-12]Status: DisposedITAT Kolkata31 Oct 2022AY 2011-12

Bench: Sri Rajpal Yadav & Dr. Manish Borad

Section 143(3)Section 250Section 37(1)Section 40Section 43B

…आयकर अपीलीय अधिकरण कोलकाता 'बी' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘B’ BENCH, KOLKATA श्री राजपाल यादव, उपाध्यक्ष (कोलकाता क्षेत्र) एवं डॉ. मनीष बोरड, लेखा सदस्य के समक्ष Before SRI RAJPAL YADAV, VICE PRESIDENT & DR. MANISH BORAD, ACCOUNTANT MEMBER I.T.A. Nos.: 494 & 495/Kol/2020 Assessment Years: 2011-12 & 2012-13 Birla Corporation Limited…....................................Appellant [PAN: AABCB 2075 J] Vs. DCIT, Circle-6(1), Kolkata.....................................Respondent I.T.A. Nos.: 2111 & 2112/Kol/2018 Assessment Years: 2011-12 & 2012-13 DCIT, Circle-6(1), Kolkata….........…

DCIT Cent. Cir. 5(2), Mumbai vs. Ipca Laboratories Ltd., Mumbai

In the result, appeal filed by the learned assessing officer is dismissed

ITA 5227/MUM/2016[2010-11]Status: DisposedITAT Mumbai29 Aug 2022AY 2010-11

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

For Appellant: Shri F.V. Irani, ARFor Respondent: Shri Sumit Kumar, DR
Section 801BSection 801CSection 80ISection 92C

…e claim of the assessee. The learned Assessing Officer has challenged the same before us. 045. We have heard the rival parties; we find that the issue is squarely covered by the decision of the Hon'ble Madras High Court in CIT vs. Shri. TP Textiles Pvt. Ltd. 394 ITR 483 (Madras). In view of this, we do not find any infirmity in the order of the learned CIT (A) in deleting the disallowance. Accordingly, ground no. 3 of the appeal is dismissed. 046. Ground no. 4 is with respect to claim of the assessee in respect of Employees Stock Option Scheme under Section 37(1) of the Act. 047. Briefly stated facts shows tha…

Ipca Laboratories Ltd, Mumbai vs. DCIT Ltu, Mumbai

In the result, appeal filed by the learned assessing officer is dismissed

ITA 3811/MUM/2016[2010-11]Status: DisposedITAT Mumbai29 Aug 2022AY 2010-11

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

For Appellant: Shri F.V. Irani, ARFor Respondent: Shri Sumit Kumar, DR
Section 801BSection 801CSection 80ISection 92C

…e claim of the assessee. The learned Assessing Officer has challenged the same before us. 045. We have heard the rival parties; we find that the issue is squarely covered by the decision of the Hon'ble Madras High Court in CIT vs. Shri. TP Textiles Pvt. Ltd. 394 ITR 483 (Madras). In view of this, we do not find any infirmity in the order of the learned CIT (A) in deleting the disallowance. Accordingly, ground no. 3 of the appeal is dismissed. 046. Ground no. 4 is with respect to claim of the assessee in respect of Employees Stock Option Scheme under Section 37(1) of the Act. 047. Briefly stated facts shows tha…

Asst CIT (Ltu) 1, Mumbai vs. Ipca Laboratories Ltd, Mumbai

In the result, appeal filed by the learned assessing officer is dismissed

ITA 3691/MUM/2016[2009-10]Status: DisposedITAT Mumbai29 Aug 2022AY 2009-10

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

For Appellant: Shri F.V. Irani, ARFor Respondent: Shri Sumit Kumar, DR
Section 801BSection 801CSection 80ISection 92C

…e claim of the assessee. The learned Assessing Officer has challenged the same before us. 045. We have heard the rival parties; we find that the issue is squarely covered by the decision of the Hon'ble Madras High Court in CIT vs. Shri. TP Textiles Pvt. Ltd. 394 ITR 483 (Madras). In view of this, we do not find any infirmity in the order of the learned CIT (A) in deleting the disallowance. Accordingly, ground no. 3 of the appeal is dismissed. 046. Ground no. 4 is with respect to claim of the assessee in respect of Employees Stock Option Scheme under Section 37(1) of the Act. 047. Briefly stated facts shows tha…

Ipca Laboratories Ltd, Mumbai vs. Asst CIT (Ltu), Mumbai

In the result, appeal filed by the learned assessing officer is dismissed

ITA 3597/MUM/2016[2009-10]Status: DisposedITAT Mumbai29 Aug 2022AY 2009-10

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

For Appellant: Shri F.V. Irani, ARFor Respondent: Shri Sumit Kumar, DR
Section 801BSection 801CSection 80ISection 92C

…e claim of the assessee. The learned Assessing Officer has challenged the same before us. 045. We have heard the rival parties; we find that the issue is squarely covered by the decision of the Hon'ble Madras High Court in CIT vs. Shri. TP Textiles Pvt. Ltd. 394 ITR 483 (Madras). In view of this, we do not find any infirmity in the order of the learned CIT (A) in deleting the disallowance. Accordingly, ground no. 3 of the appeal is dismissed. 046. Ground no. 4 is with respect to claim of the assessee in respect of Employees Stock Option Scheme under Section 37(1) of the Act. 047. Briefly stated facts shows tha…

DCIT (Ltu) 1, Mumbai vs. Ipca Laboratories Ltd, Mumbai

In the result, appeal filed by the learned assessing officer is dismissed

ITA 2815/MUM/2015[2010-11]Status: DisposedITAT Mumbai29 Aug 2022AY 2010-11

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

For Appellant: Shri F.V. Irani, ARFor Respondent: Shri Sumit Kumar, DR
Section 801BSection 801CSection 80ISection 92C

…e claim of the assessee. The learned Assessing Officer has challenged the same before us. 045. We have heard the rival parties; we find that the issue is squarely covered by the decision of the Hon'ble Madras High Court in CIT vs. Shri. TP Textiles Pvt. Ltd. 394 ITR 483 (Madras). In view of this, we do not find any infirmity in the order of the learned CIT (A) in deleting the disallowance. Accordingly, ground no. 3 of the appeal is dismissed. 046. Ground no. 4 is with respect to claim of the assessee in respect of Employees Stock Option Scheme under Section 37(1) of the Act. 047. Briefly stated facts shows tha…

Ipca Laboratories Ltd, Mumbai vs. Asst CIT (Ltu), Mumbai

In the result, appeal filed by the learned assessing officer is dismissed

ITA 2493/MUM/2015[2008-09]Status: DisposedITAT Mumbai29 Aug 2022AY 2008-09

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

For Appellant: Shri F.V. Irani, ARFor Respondent: Shri Sumit Kumar, DR
Section 801BSection 801CSection 80ISection 92C

…e claim of the assessee. The learned Assessing Officer has challenged the same before us. 045. We have heard the rival parties; we find that the issue is squarely covered by the decision of the Hon'ble Madras High Court in CIT vs. Shri. TP Textiles Pvt. Ltd. 394 ITR 483 (Madras). In view of this, we do not find any infirmity in the order of the learned CIT (A) in deleting the disallowance. Accordingly, ground no. 3 of the appeal is dismissed. 046. Ground no. 4 is with respect to claim of the assessee in respect of Employees Stock Option Scheme under Section 37(1) of the Act. 047. Briefly stated facts shows tha…

Ipca Laboratories Ltd, Mumbai vs. DCIT (Ltu), Mumbai

In the result, appeal filed by the learned assessing officer is dismissed

ITA 3267/MUM/2012[2007-08]Status: DisposedITAT Mumbai29 Aug 2022AY 2007-08

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

For Appellant: Shri F.V. Irani, ARFor Respondent: Shri Sumit Kumar, DR
Section 801BSection 801CSection 80ISection 92C

…e claim of the assessee. The learned Assessing Officer has challenged the same before us. 045. We have heard the rival parties; we find that the issue is squarely covered by the decision of the Hon'ble Madras High Court in CIT vs. Shri. TP Textiles Pvt. Ltd. 394 ITR 483 (Madras). In view of this, we do not find any infirmity in the order of the learned CIT (A) in deleting the disallowance. Accordingly, ground no. 3 of the appeal is dismissed. 046. Ground no. 4 is with respect to claim of the assessee in respect of Employees Stock Option Scheme under Section 37(1) of the Act. 047. Briefly stated facts shows tha…

Ipca Laboratories Ltd, Mumbai vs. ACIT (Ltu), Mumbai

In the result, appeal filed by the learned assessing officer is dismissed

ITA 8120/MUM/2010[2005-06]Status: DisposedITAT Mumbai29 Aug 2022AY 2005-06

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

For Appellant: Shri F.V. Irani, ARFor Respondent: Shri Sumit Kumar, DR
Section 801BSection 801CSection 80ISection 92C

…e claim of the assessee. The learned Assessing Officer has challenged the same before us. 045. We have heard the rival parties; we find that the issue is squarely covered by the decision of the Hon'ble Madras High Court in CIT vs. Shri. TP Textiles Pvt. Ltd. 394 ITR 483 (Madras). In view of this, we do not find any infirmity in the order of the learned CIT (A) in deleting the disallowance. Accordingly, ground no. 3 of the appeal is dismissed. 046. Ground no. 4 is with respect to claim of the assessee in respect of Employees Stock Option Scheme under Section 37(1) of the Act. 047. Briefly stated facts shows tha…

Ipca Laboratories Ltd, Mumbai vs. DCIT (Ltu), Mumbai

In the result, appeal filed by the learned assessing officer is dismissed

ITA 8084/MUM/2010[2006-07]Status: DisposedITAT Mumbai29 Aug 2022AY 2006-07

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

For Appellant: Shri F.V. Irani, ARFor Respondent: Shri Sumit Kumar, DR
Section 801BSection 801CSection 80ISection 92C

…e claim of the assessee. The learned Assessing Officer has challenged the same before us. 045. We have heard the rival parties; we find that the issue is squarely covered by the decision of the Hon'ble Madras High Court in CIT vs. Shri. TP Textiles Pvt. Ltd. 394 ITR 483 (Madras). In view of this, we do not find any infirmity in the order of the learned CIT (A) in deleting the disallowance. Accordingly, ground no. 3 of the appeal is dismissed. 046. Ground no. 4 is with respect to claim of the assessee in respect of Employees Stock Option Scheme under Section 37(1) of the Act. 047. Briefly stated facts shows tha…

ACIT Cen Cir 13, Mumbai vs. Ipca Laboratories Ltd, Mumbai

In the result, appeal filed by the learned assessing officer is dismissed

ITA 7511/MUM/2010[2005-06]Status: DisposedITAT Mumbai29 Aug 2022AY 2005-06

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

For Appellant: Shri F.V. Irani, ARFor Respondent: Shri Sumit Kumar, DR
Section 801BSection 801CSection 80ISection 92C

…e claim of the assessee. The learned Assessing Officer has challenged the same before us. 045. We have heard the rival parties; we find that the issue is squarely covered by the decision of the Hon'ble Madras High Court in CIT vs. Shri. TP Textiles Pvt. Ltd. 394 ITR 483 (Madras). In view of this, we do not find any infirmity in the order of the learned CIT (A) in deleting the disallowance. Accordingly, ground no. 3 of the appeal is dismissed. 046. Ground no. 4 is with respect to claim of the assessee in respect of Employees Stock Option Scheme under Section 37(1) of the Act. 047. Briefly stated facts shows tha…

DCIT, Circle-11(1), New Delhi vs. Haldiram Snacks Pvt. Ltd., New Delhi

In the result, the Revenue’s appeal is dismissed

ITA 448/DEL/2019[2015-16]Status: DisposedITAT Delhi23 Aug 2022AY 2015-16

Bench: Shri N.K. Billaiya & Ms. Astha Chandraassessment Year: 2015-16

For Appellant: Shri Ajay Wadhwa, AdvocateFor Respondent: Shri Anuj Garg, Sr. DR
Section 32

…depreciation is acquired during the second half of the year, the assessee is entitled to only 50% during the year and balance is allowable in next year. He also placed reliance on the decision of Madras High Court in CIT vs. Shri T.P. Textiles (P.) Ltd.(2017) 394 ITR 483 (Mad). 7. We have carefully considered the rival submissions, perused the legal position involved and the material available in the records. The issue for consideration in this case is whether additional depreciation if claimed @ 10% in one year, being the plant and machinery installed and put to use for the purposes of business for a period of…