CIT v. Singh Transport Co.

123 ITR 698Reported decision1980#10116 most cited

What is CIT v. Singh Transport Co. authority for?

Section 32(2) of the Income Tax Act exclusively governs the carry forward and set-off of depreciation allowance, meaning there is no time limitation for setting off unabsorbed depreciation.

10

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2011 to 2025.

Also referred to as

CIT v. Singh Transport Co. · section 32(2) · unabsorbed depreciation · carry forward and set off · depreciation allowance · time limitation · independent provision · complete code

Judgments citing CIT v. Singh Transport Co.

Thermo Fisher Scientific India P. Ltd, Mumbai vs. DCIT 15(3)(1), Mumbai

In the result, the appeal by the assessee is partly allowed for statistical

ITA 2458/MUM/2015[2010-11]Status: DisposedITAT Mumbai16 Jul 2025AY 2010-11

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhail

For Appellant: Shri Dhanesh Bafna, Shri Amol MahajanFor Respondent: Shri Ajay Chandra, CIT-DR
Section 143(3)Section 144CSection 144C(5)Section 32(1)

…ch the construction of section 32(2) in the light of the above background, there appears to be no difficulty in construing the reference." 14. In the same case reliance was also placed on the judgment of Gauhati High Court in CIT v. Singh Transport Co. [1980] 123 ITR 698/ 4 Taxman 86, which held as under:- "In the result, we have no hesitation in arriving at the conclusion that section 32(2) of the Act governs exclusively as to the manner of carry forward and set off in respect of depreciation allowance. In this view of the matter, the rigour of limitation as to the time up to which unabsorbed depreciation allowa…

Metmin Investment and Trading P.Ltd, Mumbai vs. DCIT 3(2)

In the result, appeals i.e

ITA 6814/MUM/2012[2008-09]Status: DisposedITAT Mumbai30 Mar 2016AY 2008-09

Bench: Shri R.C.Sharma, Am & Shri Mahavir Singh, Jm आमकय अऩीर सं./Ita Nos.6811& 6812/Mum/2012

For Appellant: Shri Haresh G. BuchFor Respondent: Dr. Sandeep Goel
Section 143(3)Section 14A

…iation has been treated differently by the legislature from business loss and loss in speculation business, rigour of limitation is not applicable in the case of unabsorbed depreciation allowance. Hon’ble Gauhati High Court in the case of Singh Transport Co., 123 ITR 698 observed as under :- The provision of section 32(2) is an independent provision providing the manner of set off and carry forward of depreciation allowance. Therefore, unabsorbed depreciation allowance never loses its nature or character as depreciation allowance. Unabsorbed depreciation allowance goes by virtue of the provisions of section 32(2)…

Metmin Investment and Trading P.Ltd, Mumbai vs. DCIT 3(2)

In the result, appeals i.e

ITA 6813/MUM/2012[2007-08]Status: DisposedITAT Mumbai30 Mar 2016AY 2007-08

Bench: Shri R.C.Sharma, Am & Shri Mahavir Singh, Jm आमकय अऩीर सं./Ita Nos.6811& 6812/Mum/2012

For Appellant: Shri Haresh G. BuchFor Respondent: Dr. Sandeep Goel
Section 143(3)Section 14A

…iation has been treated differently by the legislature from business loss and loss in speculation business, rigour of limitation is not applicable in the case of unabsorbed depreciation allowance. Hon’ble Gauhati High Court in the case of Singh Transport Co., 123 ITR 698 observed as under :- The provision of section 32(2) is an independent provision providing the manner of set off and carry forward of depreciation allowance. Therefore, unabsorbed depreciation allowance never loses its nature or character as depreciation allowance. Unabsorbed depreciation allowance goes by virtue of the provisions of section 32(2)…

Metmin Finance and Holdings P. Ltd, Mumbai vs. DCIT 3(2), Mumbai

In the result, appeals i.e

ITA 6812/MUM/2012[2007-08]Status: DisposedITAT Mumbai30 Mar 2016AY 2007-08

Bench: Shri R.C.Sharma, Am & Shri Mahavir Singh, Jm आमकय अऩीर सं./Ita Nos.6811& 6812/Mum/2012

For Appellant: Shri Haresh G. BuchFor Respondent: Dr. Sandeep Goel
Section 143(3)Section 14A

…iation has been treated differently by the legislature from business loss and loss in speculation business, rigour of limitation is not applicable in the case of unabsorbed depreciation allowance. Hon’ble Gauhati High Court in the case of Singh Transport Co., 123 ITR 698 observed as under :- The provision of section 32(2) is an independent provision providing the manner of set off and carry forward of depreciation allowance. Therefore, unabsorbed depreciation allowance never loses its nature or character as depreciation allowance. Unabsorbed depreciation allowance goes by virtue of the provisions of section 32(2)…

Metmin Finance and Holdings P. Ltd, Mumbai vs. ITO 3(2)(2), Mumbai

In the result, appeals i.e

ITA 6811/MUM/2012[2008-09]Status: DisposedITAT Mumbai30 Mar 2016AY 2008-09

Bench: Shri R.C.Sharma, Am & Shri Mahavir Singh, Jm आमकय अऩीर सं./Ita Nos.6811& 6812/Mum/2012

For Appellant: Shri Haresh G. BuchFor Respondent: Dr. Sandeep Goel
Section 143(3)Section 14A

…iation has been treated differently by the legislature from business loss and loss in speculation business, rigour of limitation is not applicable in the case of unabsorbed depreciation allowance. Hon’ble Gauhati High Court in the case of Singh Transport Co., 123 ITR 698 observed as under :- The provision of section 32(2) is an independent provision providing the manner of set off and carry forward of depreciation allowance. Therefore, unabsorbed depreciation allowance never loses its nature or character as depreciation allowance. Unabsorbed depreciation allowance goes by virtue of the provisions of section 32(2)…

Metmin Finance and Holdings P. Ltd, Mumbai vs. DCIT 3(2), Mumbai

In the result, appeals i.e

ITA 1354/MUM/2010[2005-06]Status: DisposedITAT Mumbai30 Mar 2016AY 2005-06

Bench: Shri R.C.Sharma, Am & Shri Mahavir Singh, Jm आमकय अऩीर सं./Ita Nos.6811& 6812/Mum/2012

For Appellant: Shri Haresh G. BuchFor Respondent: Dr. Sandeep Goel
Section 143(3)Section 14A

…iation has been treated differently by the legislature from business loss and loss in speculation business, rigour of limitation is not applicable in the case of unabsorbed depreciation allowance. Hon’ble Gauhati High Court in the case of Singh Transport Co., 123 ITR 698 observed as under :- The provision of section 32(2) is an independent provision providing the manner of set off and carry forward of depreciation allowance. Therefore, unabsorbed depreciation allowance never loses its nature or character as depreciation allowance. Unabsorbed depreciation allowance goes by virtue of the provisions of section 32(2)…

M/S. Metmin Finance & Holdings P. Ltd., Mumbai vs. ITO - 3(2)(2), Mumbai

In the result, appeals i.e

ITA 1561/MUM/2007[2003-2004]Status: DisposedITAT Mumbai30 Mar 2016AY 2003-2004

Bench: Shri R.C.Sharma, Am & Shri Mahavir Singh, Jm आमकय अऩीर सं./Ita Nos.6811& 6812/Mum/2012

For Appellant: Shri Haresh G. BuchFor Respondent: Dr. Sandeep Goel
Section 143(3)Section 14A

…iation has been treated differently by the legislature from business loss and loss in speculation business, rigour of limitation is not applicable in the case of unabsorbed depreciation allowance. Hon’ble Gauhati High Court in the case of Singh Transport Co., 123 ITR 698 observed as under :- The provision of section 32(2) is an independent provision providing the manner of set off and carry forward of depreciation allowance. Therefore, unabsorbed depreciation allowance never loses its nature or character as depreciation allowance. Unabsorbed depreciation allowance goes by virtue of the provisions of section 32(2)…

M/S. Metmin Finance & Holdings P. Ltd., Mumbai vs. ITO - 3(2)(2), Mumbai

In the result, appeals i.e

ITA 1560/MUM/2007[2002-2003]Status: DisposedITAT Mumbai30 Mar 2016AY 2002-2003

Bench: Shri R.C.Sharma, Am & Shri Mahavir Singh, Jm आमकय अऩीर सं./Ita Nos.6811& 6812/Mum/2012

For Appellant: Shri Haresh G. BuchFor Respondent: Dr. Sandeep Goel
Section 143(3)Section 14A

…iation has been treated differently by the legislature from business loss and loss in speculation business, rigour of limitation is not applicable in the case of unabsorbed depreciation allowance. Hon’ble Gauhati High Court in the case of Singh Transport Co., 123 ITR 698 observed as under :- The provision of section 32(2) is an independent provision providing the manner of set off and carry forward of depreciation allowance. Therefore, unabsorbed depreciation allowance never loses its nature or character as depreciation allowance. Unabsorbed depreciation allowance goes by virtue of the provisions of section 32(2)…

Asst CIT Cir 6(1), Mumbai vs. Anil Priners Ltd, Mumbai

The appeal of the Revenue is dismissed

ITA 5859/MUM/2013[2009-10]Status: DisposedITAT Mumbai14 Mar 2016AY 2009-10

Bench: Shri Joginder Singh & Shri Rajendraassessment Year-2009-10 Acit, Anil Printers Ltd. Circle-6(1), R. No.506, 2, Kakad Industrial Estate, बनाम/ 5Th Floor, Aayakar Bhavan, Matunga West, Vs. M.K.Road, Mumbai-400016 Mumbai-400020 Pan No.Aacca6914C (अपीलाथ" /Appellant) (""यथ"/Respondent)

Section 114JSection 139(1)Section 139(3)Section 143(1)Section 143(2)Section 32(2)Section 32oSection 42Section 80

…rmani Industries (P.) Ltd. [1995] 216 ITR 607/83 Taxman 343 (SC) f) CIT v. J. Patel & CO. [1984] 149 ITR 682/18 Taxman 204 (Delhi), g) CIT v. Nagapatinam Import & Export Corpn. [1975]119 ITR 444/[1980)3 Taxman 150 (Mad.) h) CIT v. Singh Transport Co. [1980)123 ITR 698/4 Taxman 86 (Gauhati) and i) Garden Silk Wvg. Factory v CIT [1991] 189 itr 512/56 Taxman 4K (SC) 2.5. According the newly substituted (w.e.f 01/04/2002) section 32 (2) by the Finance Act, 2001 (14 of 2001) , which is operative for and from A.Y. 2002-03, certain conditions, inter-alia, the restriction of eight years for carry forward and set off…

Commissioner of Income Tax vs. Govind Nagar Sugar Limited

ITA/164/2008HC Delhi25 Mar 2011

Bench: HON'BLE MR. JUSTICE A.K.SIKRI,HON'BLE MR. JUSTICE M.L. MEHTA

Section 139(1)Section 139(3)Section 143(2)Section 32(2)Section 80

…onstruction of s. 32(2) in the light of the above background, there appears to be no difficulty in construing the reference." 14. In the same case reliance was also placed on the judgment of Gauhati High Court in CIT v. Singh Transport Co. [1980] 123 ITR 698, which held as under:- ITA No. 164/2008 Page 11 of 13 “In the result, we have no hesitation in arriving at the conclusion that Section 32(2) of the Act governs exclusively as to the manner of carry forward and set off in respect of depreciation allowance. In this view of the matter, the rigour of limitation as…

CIT v. Singh Transport Co. (123 ITR 698) — Cited in 10 Judgments | BharatTax