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.

Tcpl Packaging Ltd, Mumbai vs. DCIT 8(3)(1), Mumbai

In the result, the appeal filed by the Revenue are dismissed

ITA 7370/MUM/2016[2012-13]Status: DisposedITAT Mumbai22 Apr 2019AY 2012-13

Bench: Shri Pawan Singh & Shri Ramit Kocharm/S Tcpl Packaging Ltd. Deputy Commissioner Of Income Empire Mills Complex, Tax- 8(3)(1) 414, Senapati Bapat Marg, Mumbai V. Lower Parel, Mumbai – 400013 Pan – Aaact1406E (Appellant) (Respondent)

For Appellant: Ms. Dinkle Haria &For Respondent: Shri V. Justin, D.R
Section 143(3)Section 32(1)(iia)

…ound that the said new plant and machinery was put to use for less P a g e | 7 ITA No.7370/Mum/2016 A.Y. 2012-13 TCPL Packaging Ltd. v. DCIT-8(3)(1),Mumbai than 180 days. The Hon‟ble Madras High Court in the case of CIT v. T.P.Textiles Private Limited (2017) 394 ITR 483(Mad.) has held the said proviso to be clarificatory in nature, by holding as under: “10. According to us, these are provisions included by the Legislature in the Statute to give a fillip to new industries as also to existing industries, which seek to expand its sway, by investing in and making use of new plant and machinery. 10.1 The plain langu…

ACIT, Circle-8(2), Kolkata vs. Tata Steel Processing and Distribution Ltd., Kolkata

In the result, the cross objection of the assessee is partly allowed

ITA 2237/KOL/2016[2011-12]Status: DisposedITAT Kolkata05 Dec 2018AY 2011-12

Bench: Hon’Ble Shri A T Varkey, Jm & Shri M.Balaganesh, Am] I.T.A No. 2237/Kol/2016 Assessment Year : 2011-12 Acit, Circle-8(2), Kolkata -Vs- Tata Steel Processing & Distribution Ltd. [Pan: Aabct 1029 L ] (Appellant) (Respondent)

For Appellant: Shri Saurabh Kumar, Addl. CIT Sr. DRFor Respondent: Shri J.P. Khaitan, Sr. Counsel
Section 143(3)Section 263Section 32

…2010-11 dated 24.08.2018 wherein it was held as under: 4.2. We have heard rival submissions. We find that this issue is no longer res integra in view of the decision of Hon’ble Madras High Court in the case of CIT vs. Shri T. P. Textiles Pvt. Ltd. reported in 394 ITR 483 (Mad) wherein it was held as under: “6.1. Therefore, the only issue, which arose for consideration before the Tribunal was, whether the additional depreciation, in the sum of Rs. 8,03,233/- could be claimed by the assessee in the relevant assessment year, i.e., the assessment year 2011-12, in respect of machinery, which was purchased and 2 3 ITA…

Euro Shoes Components Ltd, Vellore vs. ACIT, Vellore

In the result, both the appeals filed by the assessee are allowed for statistical purposes

ITA 1596/CHNY/2018[2014-15]Status: DisposedITAT Chennai07 Nov 2018AY 2014-15

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita Nos.1595 & 1596/Chny/2018 "नधा"रण वष" / Assessment Years : 2013-14 & 2014-15 M/S Euro Shoe Components Ltd., The Assistant Commissioner Of No.478/30A, Coromandal Road, V. Income Tax, Sipcot, Ranipet – 632 403. Circle – 1, Vellore. Pan : Aabce 4723 G (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri A. Mahesh, FCAFor Respondent: Ms. Anita, JCIT
Section 40

…entative submitted that this proviso was held to be prospective in nature by 6 I.T.A. Nos.1595 & 1596/Chny/18 CIT(Appeals). Accordingly, he rejected the claim of the assessee. Referring to the judgment of Madras High Court in CIT v. T.P. Textiles Pvt. Ltd. (394 ITR 483), the Ld. representative submitted that the Madras High Court found that the amendment is clarificatory in nature, therefore, it is not prospective in operation. In other words, it is retrospective in nature, therefore, the assessee is eligible for additional depreciation. 10. We heard Ms. Anita, the Ld. Departmental Representative also. Admitte…

Euro Shoes Components Ltd, Vellore vs. ACIT, Vellore

In the result, both the appeals filed by the assessee are allowed for statistical purposes

ITA 1595/CHNY/2018[2013-14]Status: DisposedITAT Chennai07 Nov 2018AY 2013-14

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita Nos.1595 & 1596/Chny/2018 "नधा"रण वष" / Assessment Years : 2013-14 & 2014-15 M/S Euro Shoe Components Ltd., The Assistant Commissioner Of No.478/30A, Coromandal Road, V. Income Tax, Sipcot, Ranipet – 632 403. Circle – 1, Vellore. Pan : Aabce 4723 G (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri A. Mahesh, FCAFor Respondent: Ms. Anita, JCIT
Section 40

…entative submitted that this proviso was held to be prospective in nature by 6 I.T.A. Nos.1595 & 1596/Chny/18 CIT(Appeals). Accordingly, he rejected the claim of the assessee. Referring to the judgment of Madras High Court in CIT v. T.P. Textiles Pvt. Ltd. (394 ITR 483), the Ld. representative submitted that the Madras High Court found that the amendment is clarificatory in nature, therefore, it is not prospective in operation. In other words, it is retrospective in nature, therefore, the assessee is eligible for additional depreciation. 10. We heard Ms. Anita, the Ld. Departmental Representative also. Admitte…

ACIT Corporate Circle 1 (1), Chennai vs. M/S Abi Showatech India Ltd, Chennai

In the result, the Revenue’s appeals in ITA Nos

ITA 481/CHNY/2018[2014-15]Status: DisposedITAT Chennai09 Oct 2018AY 2014-15

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकरअपीलसं/.I.T.A. Nos. 480 & 481/Chny/2018 "नधा"रणवष"/Assessment Years : 2013-14 & 2014-15

For Appellant: Shri S. Jaganathan, FCAFor Respondent: Shri. D. Rohini, JCIT
Section 10Section 14ASection 32(1)(iia)

…claim, relying on the Jurisdictional High Court decisions in the cases of Brakes India Ltd vs DCIT in TCA No.551 of 2013, assessee’s own case in TCA Nos. 699 to 702 of 2013 dated 14.03.2017 and CIT vs T.P. Textiles (P) Ltd. (2017) 79 Taxman.com 411 (Mad)/ 394 ITR 483 etc, allowed the appeals. 4. Aggrieved, the Revenue filed these appeals with the following common grounds: “1. The order of the learned CIT(A) is contrary to law, facts and circumstances of the case. 2.1 The learned CIT(A) erred in restricting the disallowance made of Rs.13.09 lakhs u/s.14A R.w.Rule 8D by directing the AO to exclude the invest…

ACIT Corporate Circle 1 (1), Chennai vs. M/S Abi Showatech India Ltd, Chennai

In the result, the Revenue’s appeals in ITA Nos

ITA 480/CHNY/2018[2013-14]Status: DisposedITAT Chennai09 Oct 2018AY 2013-14

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकरअपीलसं/.I.T.A. Nos. 480 & 481/Chny/2018 "नधा"रणवष"/Assessment Years : 2013-14 & 2014-15

For Appellant: Shri S. Jaganathan, FCAFor Respondent: Shri. D. Rohini, JCIT
Section 10Section 14ASection 32(1)(iia)

…claim, relying on the Jurisdictional High Court decisions in the cases of Brakes India Ltd vs DCIT in TCA No.551 of 2013, assessee’s own case in TCA Nos. 699 to 702 of 2013 dated 14.03.2017 and CIT vs T.P. Textiles (P) Ltd. (2017) 79 Taxman.com 411 (Mad)/ 394 ITR 483 etc, allowed the appeals. 4. Aggrieved, the Revenue filed these appeals with the following common grounds: “1. The order of the learned CIT(A) is contrary to law, facts and circumstances of the case. 2.1 The learned CIT(A) erred in restricting the disallowance made of Rs.13.09 lakhs u/s.14A R.w.Rule 8D by directing the AO to exclude the invest…

Tata Steel Processing and Distribution Ltd., Kolkata vs. DCIT, Cir-8(2), Kolkata

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

ITA 508/KOL/2016[2010-2011]Status: DisposedITAT Kolkata24 Aug 2018AY 2010-2011

Bench: Hon’Ble Shri M.Balaganesh, Am & Hon’Ble Shri S.S.Viswanethra Ravi, Jm] I.T.A No. 508/Kol/2016 Assessment Year : 2010-11 Tata Steel Processing & Distribution Ltd. -Vs- Dcit, Circle-8(2), Kolkata [Pan: Aabct 1029 L] (Appellant) (Respondent) For The Appellant : Shri J.P. Khaitan, Sr. Counsel Shri P. Jhunjhunwala, Ar For The Respondent : Shri S. Dasgupta, Addl. Cit Dr Date Of Hearing : 09.08.2018 Date Of Pronouncement : 24.08.2018

For Appellant: Shri J.P. Khaitan, Sr. CounselFor Respondent: Shri S. Dasgupta, Addl. CIT DR
Section 115JSection 143(3)Section 14ASection 43B

…IT(A). Aggrieved the assessee is in appeal before us. 4.2. We have heard rival submissions. We find that this issue is no longer res integra in view of the decision of Hon’ble Madras High Court in the case of CIT vs. Shri T. P. Textiles Pvt. Ltd. reported in 394 ITR 483 (Mad) wherein it was held as under: “6.1. Therefore, the only issue, which arose for consideration before the Tribunal was, whether the additional depreciation, in the sum of Rs. 8,03,233/- could be claimed by the assessee in the relevant assessment year, i.e., the assessment year 2011-12, in respect of machinery, which was purchased and used fo…

ACIT 3(2)(1), Mumbai vs. Modison Metals Ltd, Mumbai

In the result, the appeal of Revenue in ITA No

ITA 7030/MUM/2016[2012-13]Status: DisposedITAT Mumbai12 Jul 2018AY 2012-13

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

For Appellant: Shri Saurabh Kumar Rai, DRFor Respondent: Shri Satish Modi, AR
Section 143(3)Section 32(1)Section 32(1)(ii)Section 32(1)(iia)Section 32(2)

…s hereby allowed. This ground of appeal is allowed.” Aggrieved, now Revenue is in appeal before Tribunal. 4. We find that this issue is squarely covered by the decision of Hon’ble Madras High Court in the case of CIT vs. Shri T. P. Textiles Pvt. Ltd. (2017) 394 ITR 483 (Mad.), wherein following the decision of Hon’ble Karnataka High Court in the case of CIT vs. Rital India (P.) Ltd. (2016) 380 ITR 423 (Karn). In view of the above decisions of the Hon’ble Madras ITA Nos. 7028-7030, 3663/Mum/2016 High Court and Karnataka High Court in the case of T. P. Textiles Pvt. Ltd. (supra) and Rital India (P.) Ltd. (supra)…

ACIT 3(2)(1), Mumbai vs. Modison Metals Ltd, Mumbai

In the result, the appeal of Revenue in ITA No

ITA 7029/MUM/2016[2011-12]Status: DisposedITAT Mumbai12 Jul 2018AY 2011-12

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

For Appellant: Shri Saurabh Kumar Rai, DRFor Respondent: Shri Satish Modi, AR
Section 143(3)Section 32(1)Section 32(1)(ii)Section 32(1)(iia)Section 32(2)

…s hereby allowed. This ground of appeal is allowed.” Aggrieved, now Revenue is in appeal before Tribunal. 4. We find that this issue is squarely covered by the decision of Hon’ble Madras High Court in the case of CIT vs. Shri T. P. Textiles Pvt. Ltd. (2017) 394 ITR 483 (Mad.), wherein following the decision of Hon’ble Karnataka High Court in the case of CIT vs. Rital India (P.) Ltd. (2016) 380 ITR 423 (Karn). In view of the above decisions of the Hon’ble Madras ITA Nos. 7028-7030, 3663/Mum/2016 High Court and Karnataka High Court in the case of T. P. Textiles Pvt. Ltd. (supra) and Rital India (P.) Ltd. (supra)…

ACIT 3(2)(1), Mumbai vs. Modison Metals Ltd, Mumbai

In the result, the appeal of Revenue in ITA No

ITA 7028/MUM/2016[2010-11]Status: DisposedITAT Mumbai12 Jul 2018AY 2010-11

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

For Appellant: Shri Saurabh Kumar Rai, DRFor Respondent: Shri Satish Modi, AR
Section 143(3)Section 32(1)Section 32(1)(ii)Section 32(1)(iia)Section 32(2)

…s hereby allowed. This ground of appeal is allowed.” Aggrieved, now Revenue is in appeal before Tribunal. 4. We find that this issue is squarely covered by the decision of Hon’ble Madras High Court in the case of CIT vs. Shri T. P. Textiles Pvt. Ltd. (2017) 394 ITR 483 (Mad.), wherein following the decision of Hon’ble Karnataka High Court in the case of CIT vs. Rital India (P.) Ltd. (2016) 380 ITR 423 (Karn). In view of the above decisions of the Hon’ble Madras ITA Nos. 7028-7030, 3663/Mum/2016 High Court and Karnataka High Court in the case of T. P. Textiles Pvt. Ltd. (supra) and Rital India (P.) Ltd. (supra)…

DCIT Cir 3(2)(1), Mumbai vs. Modison Metals Ltd, Mumbai

In the result, the appeal of Revenue in ITA No

ITA 3663/MUM/2016[2009-10]Status: DisposedITAT Mumbai12 Jul 2018AY 2009-10

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

For Appellant: Shri Saurabh Kumar Rai, DRFor Respondent: Shri Satish Modi, AR
Section 143(3)Section 32(1)Section 32(1)(ii)Section 32(1)(iia)Section 32(2)

…s hereby allowed. This ground of appeal is allowed.” Aggrieved, now Revenue is in appeal before Tribunal. 4. We find that this issue is squarely covered by the decision of Hon’ble Madras High Court in the case of CIT vs. Shri T. P. Textiles Pvt. Ltd. (2017) 394 ITR 483 (Mad.), wherein following the decision of Hon’ble Karnataka High Court in the case of CIT vs. Rital India (P.) Ltd. (2016) 380 ITR 423 (Karn). In view of the above decisions of the Hon’ble Madras ITA Nos. 7028-7030, 3663/Mum/2016 High Court and Karnataka High Court in the case of T. P. Textiles Pvt. Ltd. (supra) and Rital India (P.) Ltd. (supra)…

Asst CIT 8(3)(1), Mumbai vs. Tcpl Packaging Ltd, Mumbai

In the result, the appeals filed by the Revenue are dismissed

ITA 5403/MUM/2016[2009-10]Status: DisposedITAT Mumbai23 Feb 2018AY 2009-10

Bench: Shri C.N. Prasad & Shri A.L. Saini

For Appellant: Shri V. VidyadharFor Respondent: Shri Dinkle Hariya
Section 143(3)Section 32(1)Section 32(1)(iia)

…IN THE INCOME TAX APPELLATE TRIBUNAL "G" Bench, Mumbai Before Shri C.N. Prasad, Judicial Member and Shri A.L. Saini, Accountant Member ITA Nos. 5403 & 5402/Mum/2016 (Assessment Years: 2009-10 & 2011-12) A C I T - 8(3)(1) M/s. TCPL Packaging Ltd. Room No. 614, Aayakar Bhavan Shiv Smirti, 49 Dr. A.B. Road Vs. M.K. Road, Mumbai 400020 Worli, Mumbai 400018 PAN – AAACT1406E Appellant Respondent Appellant by: Shri V. Vidyadhar Respondent by: Shri Dinkle Hariya Date of Hearing: 22.02.2018 Date of Pronouncement: 23.02.2018 O R D E R Per C.N. Prasad, JM These two appeals are filed by the Revenue against separate…

Asst CIT 8(3)(1), Mumbai vs. Tcpl Packaging Ltd, Mumbai

In the result, the appeals filed by the Revenue are dismissed

ITA 5402/MUM/2016[2011-12]Status: DisposedITAT Mumbai23 Feb 2018AY 2011-12

Bench: Shri C.N. Prasad & Shri A.L. Saini

For Appellant: Shri V. VidyadharFor Respondent: Shri Dinkle Hariya
Section 143(3)Section 32(1)Section 32(1)(iia)

…IN THE INCOME TAX APPELLATE TRIBUNAL "G" Bench, Mumbai Before Shri C.N. Prasad, Judicial Member and Shri A.L. Saini, Accountant Member ITA Nos. 5403 & 5402/Mum/2016 (Assessment Years: 2009-10 & 2011-12) A C I T - 8(3)(1) M/s. TCPL Packaging Ltd. Room No. 614, Aayakar Bhavan Shiv Smirti, 49 Dr. A.B. Road Vs. M.K. Road, Mumbai 400020 Worli, Mumbai 400018 PAN – AAACT1406E Appellant Respondent Appellant by: Shri V. Vidyadhar Respondent by: Shri Dinkle Hariya Date of Hearing: 22.02.2018 Date of Pronouncement: 23.02.2018 O R D E R Per C.N. Prasad, JM These two appeals are filed by the Revenue against separate…