CIT v. Southern Petrochemical Industries Corporation Ltd.

291 ITR 362High Court2007#10911 most cited

What is CIT v. Southern Petrochemical Industries Corporation Ltd. authority for?

Depreciation is allowable on standby machinery that is kept ready for use, even if not actually put to use due to reasons such as raw material paucity. This is permissible as long as the business is a going concern.

10

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2018 to 2023.

Also referred to as

CIT v. Southern Petrochemical Industries Corporation Ltd. · depreciation on standby machinery · machinery not in use · business as going concern · raw material paucity · Income Tax Act

Also reported as

37 DTR 177

Judgments citing CIT v. Southern Petrochemical Industries Corporation Ltd.

Shri Devkripa Textile Mills (P) Ltd., Bhilwara vs. ACIT, Bhilwara Circle, Bhilwara

In the result, the appeal of the assessee is partly allowed

ITA 467/JODH/2018[2015-16]Status: DisposedITAT Jodhpur05 Apr 2023AY 2015-16

Bench: Shri B. R. Baskaran & Dr. S. Seethalakshmi

Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 37(1)

…hence, the same would not be of any assistance to the assessee. In fact, the learned standing counsel appearing for the Revenue fairly stated before this court that in the decisions reported in CIT v. Southern Petrochemical Industries Corporation Ltd. [2009] 311 ITR 202 (Mad) and CIT v. Southern Petrochemical Industries Corporation Ltd. [2008] 301 ITR 255 (Mad), this court had considered the grant of depreciation even to stand-by machinery. When that being the case, we do not find any justifiable ground to disturb the reasoning of the majority members of the Income-tax Appellate Tribunal. 21. Under the stated ci…

DCIT, New Delhi vs. M/S Ircon International Ltd., New Delhi

In the result, all the three appeals of the assessee for A

ITA 3805/DEL/2008[2003-04]Status: DisposedITAT Delhi31 Oct 2019AY 2003-04

Bench: : Shri Bhavnesh Saini & Shri O.P. Kant

Section 80HSection 80I

…In the Income-Tax Appellate Tribunal, Delhi Bench ‘C’, New Delhi Before : Shri Bhavnesh Saini, Judicial Member And Shri O.P. Kant, Accountant Member ITA Nos. 1825/Del/2005, 705/Del/2006 & 3804/Del/2008 Assessment Years: 2001-02, 2002-03 & 2003-04 IRCON International Limited, vs. Addl. C.I.T., Range-11, Palika Bhawan, R.K. Puram New Delhi. Sector-13, New Delhi (PAN: AAACI0684H) (Appellant) (Respondent) ITA No. 2234/Del/2005& 3805/Del/2008 Assessment Year: 2001-02& 2003-04 Dy. C.I.T., Range-11(1), vs. IRCON International Limited, New Delhi. Palika Bhawan, R.K. Puram Sector-13, New Delhi (Appellant) (Responden…

Ircon International Ltd., New Delhi vs. DCIT, Circle-11(1), Delhi

In the result, all the three appeals of the assessee for A

ITA 705/DEL/2006[2002-2003]Status: DisposedITAT Delhi31 Oct 2019AY 2002-2003

Bench: : Shri Bhavnesh Saini & Shri O.P. Kant

Section 80HSection 80I

…In the Income-Tax Appellate Tribunal, Delhi Bench ‘C’, New Delhi Before : Shri Bhavnesh Saini, Judicial Member And Shri O.P. Kant, Accountant Member ITA Nos. 1825/Del/2005, 705/Del/2006 & 3804/Del/2008 Assessment Years: 2001-02, 2002-03 & 2003-04 IRCON International Limited, vs. Addl. C.I.T., Range-11, Palika Bhawan, R.K. Puram New Delhi. Sector-13, New Delhi (PAN: AAACI0684H) (Appellant) (Respondent) ITA No. 2234/Del/2005& 3805/Del/2008 Assessment Year: 2001-02& 2003-04 Dy. C.I.T., Range-11(1), vs. IRCON International Limited, New Delhi. Palika Bhawan, R.K. Puram Sector-13, New Delhi (Appellant) (Responden…

DCIT, Circle-11(1) vs. Ircon International Ltd

In the result, all the three appeals of the assessee for A

ITA 2234/DEL/2005[2001-2002]Status: DisposedITAT Delhi31 Oct 2019AY 2001-2002

Bench: : Shri Bhavnesh Saini & Shri O.P. Kant

Section 80HSection 80I

…In the Income-Tax Appellate Tribunal, Delhi Bench ‘C’, New Delhi Before : Shri Bhavnesh Saini, Judicial Member And Shri O.P. Kant, Accountant Member ITA Nos. 1825/Del/2005, 705/Del/2006 & 3804/Del/2008 Assessment Years: 2001-02, 2002-03 & 2003-04 IRCON International Limited, vs. Addl. C.I.T., Range-11, Palika Bhawan, R.K. Puram New Delhi. Sector-13, New Delhi (PAN: AAACI0684H) (Appellant) (Respondent) ITA No. 2234/Del/2005& 3805/Del/2008 Assessment Year: 2001-02& 2003-04 Dy. C.I.T., Range-11(1), vs. IRCON International Limited, New Delhi. Palika Bhawan, R.K. Puram Sector-13, New Delhi (Appellant) (Responden…

Ircon International Limited, New Delhi vs. ACIT, New Delhi

In the result, all the three appeals of the assessee for A

ITA 3804/DEL/2008[2003-04]Status: DisposedITAT Delhi31 Oct 2019AY 2003-04

Bench: : Shri Bhavnesh Saini & Shri O.P. Kant

Section 80HSection 80I

…preciation is allowable on standby spare items, which are not taken for use during the accounting year , the Ld. counsel relied on the decision of the Hon’ble Madras High Court in the case of CIT Vs Southern Petrochemical Industries Corporation Ltd (2007) 291 ITR 362 (Mad) and SPIC Ltd (2010) 37 DTR 177 (Mad. )The Ld. counsel further claimed that depreciation is allowable not only on the asset actually used but also on the asset kept ready for use. In support of the contention , he relied on the decisions of the Hon’ble Delhi High Court in the case of National Thermal Power Corporation limited Vs CIT (2013…

Ircon International Ltd vs. Addl. CIT, Range-11

In the result, all the three appeals of the assessee for A

ITA 1825/DEL/2005[2001-2002]Status: DisposedITAT Delhi31 Oct 2019AY 2001-2002

Bench: : Shri Bhavnesh Saini & Shri O.P. Kant

Section 80HSection 80I

…preciation is allowable on standby spare items, which are not taken for use during the accounting year , the Ld. counsel relied on the decision of the Hon’ble Madras High Court in the case of CIT Vs Southern Petrochemical Industries Corporation Ltd (2007) 291 ITR 362 (Mad) and SPIC Ltd (2010) 37 DTR 177 (Mad. )The Ld. counsel further claimed that depreciation is allowable not only on the asset actually used but also on the asset kept ready for use. In support of the contention , he relied on the decisions of the Hon’ble Delhi High Court in the case of National Thermal Power Corporation limited Vs CIT (2013…

Moserbaer India Ltd., New Delhi vs. DCIT, New Delhi

Appeal is dismissed

ITA 1617/DEL/2015[2010-11]Status: DisposedITAT Delhi03 Oct 2018AY 2010-11

Bench: Shri N. K. Saini & Ms Suchitra Kamblemoserbaer India Ltd. Vs Assistant Commissioner Of Tax, 43-A, Okhla Indl Area, Income Tax Phase-Iii Circle 5(1) New Delhi-110020 New Delhi Aaam0322J (Respondent) (Appellant) Moserbaer India Ltd. Vs Assistant Commissioner Of Tax, 43-A, Okhla Indl Area, Income Tax Phase-Iii Circle 5(1) New Delhi-110020 New Delhi Aaam0322J (Respondent) (Appellant) Astt. Commissioner Of Income Tax Vs Moserbaer India Ltd. Circle 5(1) Tax, 43-A, Okhla Indl Area, New Delhi Phase-Iii New Delhi-110020 (Appellant) Aaam0322J (Respondent) Moserbaer India Ltd. Vs Dcit Tax, 43-A, Okhla Indl Area, Circle 17(1) Phase-Iii New Delhi New Delhi-110020 (Respondent) Aaam0322J (Appellant)

Section 10BSection 143Section 144CSection 14A

…DELHI BENCH: ‘I-1’ NEW DELHI BEFORE SHRI N. K. SAINI, ACCOUNTANT MEMBER AND MS SUCHITRA KAMBLE, JUDICIAL MEMBER Moserbaer India Ltd. Vs Assistant Commissioner of Tax, 43-A, Okhla Indl Area, Income Tax Phase-III Circle 5(1) New Delhi-110020 New Delhi AAAM0322J (RESPONDENT) (APPELLANT) Moserbaer India Ltd. Vs Assistant Commissioner of Tax, 43-A, Okhla Indl Area, Income Tax Phase-III Circle 5(1) New Delhi-110020 New Delhi AAAM0322J (RESPONDENT) (APPELLANT) Astt. Commissioner of Income Tax Vs Moserbaer India Ltd. Circle 5(1) Tax, 43-A, Okhla Indl Area, New Delhi Phase-III New Delhi-110020 (APPELLANT) AAAM0322J (RE…

M/S. Moserbaer India Ltd., New Delhi vs. ACIT, New Delhi

Appeal is dismissed

ITA 2395/DEL/2014[2009-10]Status: DisposedITAT Delhi03 Oct 2018AY 2009-10

Bench: Shri N. K. Saini & Ms Suchitra Kamblemoserbaer India Ltd. Vs Assistant Commissioner Of Tax, 43-A, Okhla Indl Area, Income Tax Phase-Iii Circle 5(1) New Delhi-110020 New Delhi Aaam0322J (Respondent) (Appellant) Moserbaer India Ltd. Vs Assistant Commissioner Of Tax, 43-A, Okhla Indl Area, Income Tax Phase-Iii Circle 5(1) New Delhi-110020 New Delhi Aaam0322J (Respondent) (Appellant) Astt. Commissioner Of Income Tax Vs Moserbaer India Ltd. Circle 5(1) Tax, 43-A, Okhla Indl Area, New Delhi Phase-Iii New Delhi-110020 (Appellant) Aaam0322J (Respondent) Moserbaer India Ltd. Vs Dcit Tax, 43-A, Okhla Indl Area, Circle 17(1) Phase-Iii New Delhi New Delhi-110020 (Respondent) Aaam0322J (Appellant)

Section 10BSection 143Section 144CSection 14A

…DELHI BENCH: ‘I-1’ NEW DELHI BEFORE SHRI N. K. SAINI, ACCOUNTANT MEMBER AND MS SUCHITRA KAMBLE, JUDICIAL MEMBER Moserbaer India Ltd. Vs Assistant Commissioner of Tax, 43-A, Okhla Indl Area, Income Tax Phase-III Circle 5(1) New Delhi-110020 New Delhi AAAM0322J (RESPONDENT) (APPELLANT) Moserbaer India Ltd. Vs Assistant Commissioner of Tax, 43-A, Okhla Indl Area, Income Tax Phase-III Circle 5(1) New Delhi-110020 New Delhi AAAM0322J (RESPONDENT) (APPELLANT) Astt. Commissioner of Income Tax Vs Moserbaer India Ltd. Circle 5(1) Tax, 43-A, Okhla Indl Area, New Delhi Phase-III New Delhi-110020 (APPELLANT) AAAM0322J (RE…

ACIT, New Delhi vs. M/S. Moser Baer India Limited, New Delhi

Appeal is dismissed

ITA 1200/DEL/2014[2009-10]Status: DisposedITAT Delhi03 Oct 2018AY 2009-10

Bench: Shri N. K. Saini & Ms Suchitra Kamblemoserbaer India Ltd. Vs Assistant Commissioner Of Tax, 43-A, Okhla Indl Area, Income Tax Phase-Iii Circle 5(1) New Delhi-110020 New Delhi Aaam0322J (Respondent) (Appellant) Moserbaer India Ltd. Vs Assistant Commissioner Of Tax, 43-A, Okhla Indl Area, Income Tax Phase-Iii Circle 5(1) New Delhi-110020 New Delhi Aaam0322J (Respondent) (Appellant) Astt. Commissioner Of Income Tax Vs Moserbaer India Ltd. Circle 5(1) Tax, 43-A, Okhla Indl Area, New Delhi Phase-Iii New Delhi-110020 (Appellant) Aaam0322J (Respondent) Moserbaer India Ltd. Vs Dcit Tax, 43-A, Okhla Indl Area, Circle 17(1) Phase-Iii New Delhi New Delhi-110020 (Respondent) Aaam0322J (Appellant)

Section 10BSection 143Section 144CSection 14A

…DELHI BENCH: ‘I-1’ NEW DELHI BEFORE SHRI N. K. SAINI, ACCOUNTANT MEMBER AND MS SUCHITRA KAMBLE, JUDICIAL MEMBER Moserbaer India Ltd. Vs Assistant Commissioner of Tax, 43-A, Okhla Indl Area, Income Tax Phase-III Circle 5(1) New Delhi-110020 New Delhi AAAM0322J (RESPONDENT) (APPELLANT) Moserbaer India Ltd. Vs Assistant Commissioner of Tax, 43-A, Okhla Indl Area, Income Tax Phase-III Circle 5(1) New Delhi-110020 New Delhi AAAM0322J (RESPONDENT) (APPELLANT) Astt. Commissioner of Income Tax Vs Moserbaer India Ltd. Circle 5(1) Tax, 43-A, Okhla Indl Area, New Delhi Phase-III New Delhi-110020 (APPELLANT) AAAM0322J (RE…

Moserbaer India Ltd., New Delhi vs. ACIT, New Delhi

Appeal is dismissed

ITA 6042/DEL/2012[2008-09]Status: DisposedITAT Delhi03 Oct 2018AY 2008-09

Bench: Shri N. K. Saini & Ms Suchitra Kamblemoserbaer India Ltd. Vs Assistant Commissioner Of Tax, 43-A, Okhla Indl Area, Income Tax Phase-Iii Circle 5(1) New Delhi-110020 New Delhi Aaam0322J (Respondent) (Appellant) Moserbaer India Ltd. Vs Assistant Commissioner Of Tax, 43-A, Okhla Indl Area, Income Tax Phase-Iii Circle 5(1) New Delhi-110020 New Delhi Aaam0322J (Respondent) (Appellant) Astt. Commissioner Of Income Tax Vs Moserbaer India Ltd. Circle 5(1) Tax, 43-A, Okhla Indl Area, New Delhi Phase-Iii New Delhi-110020 (Appellant) Aaam0322J (Respondent) Moserbaer India Ltd. Vs Dcit Tax, 43-A, Okhla Indl Area, Circle 17(1) Phase-Iii New Delhi New Delhi-110020 (Respondent) Aaam0322J (Appellant)

Section 10BSection 143Section 144CSection 14A

…DELHI BENCH: ‘I-1’ NEW DELHI BEFORE SHRI N. K. SAINI, ACCOUNTANT MEMBER AND MS SUCHITRA KAMBLE, JUDICIAL MEMBER Moserbaer India Ltd. Vs Assistant Commissioner of Tax, 43-A, Okhla Indl Area, Income Tax Phase-III Circle 5(1) New Delhi-110020 New Delhi AAAM0322J (RESPONDENT) (APPELLANT) Moserbaer India Ltd. Vs Assistant Commissioner of Tax, 43-A, Okhla Indl Area, Income Tax Phase-III Circle 5(1) New Delhi-110020 New Delhi AAAM0322J (RESPONDENT) (APPELLANT) Astt. Commissioner of Income Tax Vs Moserbaer India Ltd. Circle 5(1) Tax, 43-A, Okhla Indl Area, New Delhi Phase-III New Delhi-110020 (APPELLANT) AAAM0322J (RE…

CIT v. Southern Petrochemical Industries Corporation Ltd. (291 ITR 362) — Cited in 10 Judgments | BharatTax