What is CIT v. Swarup Vegetable Products India Ltd. authority for?

Depreciation is allowable on assets kept ready for use, even if not actually utilized, due to inherent loss of value over time.

How many judgments cite CIT v. Swarup Vegetable Products India Ltd.?

13 judgments on BharatTax cite CIT v. Swarup Vegetable Products India Ltd. (277 ITR 60), spanning 2009 to 2023.

Which sections of the Income Tax Act does CIT v. Swarup Vegetable Products India Ltd. come up under?

It is most often cited in judgments turning on Section 143(3), Section 144C(13), Section 80A(6), Section 80IA, Section 80IA(8).

CIT v. Swarup Vegetable Products India Ltd. (277 ITR 60)

Asst CIT (Ltu) 1, Mumbai vs. Grasim Industries Limited (As A Successor to Aditya Birla Nuvo Ltd, Mumbai

In the result, appeal of the Revenue is dismissed

ITA 1248/MUM/2017[2011-12]Status: DisposedITAT Mumbai28 Dec 2023AY 2011-12

Bench: Shri Vikas Awasthy, Jm & Ms Padmavathy S, Am

For Appellant: Shri Yogesh Thar, ARFor Respondent: Ms. A. Alankrutha, Sr. DR

Section 10BSection 115JSection 14ASection 234BSection 271(1)(c)Section 32(1)(iia)Section 37Section 40Section 43BSection 80I

…see contended in the light of the decision of the jurisdictional High Court in the case of Anil Bulk Carriers P. Ltd. v. Commissioner of Income tax(2005) 276 ITR 625 and in the case of Commissioner of Income tax v. Swarup Vegetable Products India Ltd., (2005) 277 ITR 60, on the subject to depreciation in the value due to passage of time is to be recognized. 21.Coming to the objection of the revenue that spares and catalysts were carried forward from year to year and by the year 2002-03, it had lost its commercial value and therefore, the claim was without merit. The learned AR's submission that the capitalization…

Grasim Industries Limited (As A Successor to Aditya Birla Nuvo Ltd), Mumbai vs. Addl CIT Ltu, Mumbai

In the result, appeal of the Revenue is dismissed

ITA 1065/MUM/2017[2011-12]Status: DisposedITAT Mumbai28 Dec 2023AY 2011-12

Bench: Shri Vikas Awasthy, Jm & Ms Padmavathy S, Am

For Appellant: Shri Yogesh Thar, ARFor Respondent: Ms. A. Alankrutha, Sr. DR

Section 10BSection 115JSection 14ASection 234BSection 271(1)(c)Section 32(1)(iia)Section 37Section 40Section 43BSection 80I

…see contended in the light of the decision of the jurisdictional High Court in the case of Anil Bulk Carriers P. Ltd. v. Commissioner of Income tax(2005) 276 ITR 625 and in the case of Commissioner of Income tax v. Swarup Vegetable Products India Ltd., (2005) 277 ITR 60, on the subject to depreciation in the value due to passage of time is to be recognized. 21.Coming to the objection of the revenue that spares and catalysts were carried forward from year to year and by the year 2002-03, it had lost its commercial value and therefore, the claim was without merit. The learned AR's submission that the capitalization…

Sambhav Energy Limited, Chennai vs. ACIT, Central Circle-1, Jodhpur

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

ITA 258/JODH/2019[2014-15]Status: DisposedITAT Jodhpur02 Nov 2022AY 2014-15

Bench: Shri B. R. Baskaran & Shri Sandeep Gosain

…nnai vs. ACIT, Central Circle-01, Jodhpur depreciation claimed by the assessee. The assessee has also placed its reliance on various case laws. 14. The Hon’ble Allahabad High Court has held as under in the case of CIT vs. Swarup Vegetable Products India Ltd (277 ITR 60):- “3. Heard learned counsel for the Department and Shri Vikram Gulati for the assessee-respondent. It was submitted by learned standing counsel that the Tribunal was not justified in allowing the normal depreciation at Rs. 1,91,917 on the plant and machinery which was not actually used during the year. Elaborating the argument it was submitted t…

Sambhav Energy Limited, Chennai vs. ACIT, Central Circle-1, Jodhpur

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

ITA 257/JODH/2019[2013-14]Status: DisposedITAT Jodhpur02 Nov 2022AY 2013-14

Bench: Shri B. R. Baskaran & Shri Sandeep Gosain

…nnai vs. ACIT, Central Circle-01, Jodhpur depreciation claimed by the assessee. The assessee has also placed its reliance on various case laws. 14. The Hon’ble Allahabad High Court has held as under in the case of CIT vs. Swarup Vegetable Products India Ltd (277 ITR 60):- “3. Heard learned counsel for the Department and Shri Vikram Gulati for the assessee-respondent. It was submitted by learned standing counsel that the Tribunal was not justified in allowing the normal depreciation at Rs. 1,91,917 on the plant and machinery which was not actually used during the year. Elaborating the argument it was submitted t…

Indus League Clothing Ltd, Bengaluru vs. Assistant Commissioner of Income Tax, Circle-11(4), Bengaluru

In the result, assessee’s appeal is partly allowed

ITA 82/BANG/2018[2006-2007]Status: DisposedITAT Bangalore17 Nov 2021AY 2006-2007

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Year : 2006-07

For Appellant: Shri L Bharath, C.AFor Respondent: Shri Priyadarshi Mishra, Addl.CIT(DR)

Section 43(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER Assessment year : 2006-07 The Asst. Commissioner of Income- Vs. M/s Indus League Clothing Ltd., tax, No.22, VK Kalyani Commercial Circle-11(4), Complex, Opp.BDA Office, Bengaluru. Kumara Park Road, Bengaluru-560 020. PAN – AAACI 5392 Q REVENUE ASSESSEE Assessee by : Shri L Bharath, C.A Revenue by : Shri Priyadarshi Mishra, Addl.CIT(DR) Date of hearing : 27.10.2021 Date of Pronouncement : .11.2021 O R D E R Per Chandra Poojari, Accountant Member This appeal by the…

Jindal Steel & Power Ltd., New Delhi vs. ACIT, Hisar

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

ITA 893/DEL/2014[2009-10]Status: DisposedITAT Delhi29 Apr 2019AY 2009-10

Bench: Sh. Bhavnesh Saini & Sh. N. S. Sainiita No. 893/Del/2014 : Asstt. Year : 2009-10 Jindal Steel & Power Ltd., Vs Asstt. Commissioner Of Jindal Centre, 12, Bhikaji Cama Income Tax, Hisar Circle, Place, New Delhi-110066 Hisar (Appellant) (Respondent) Pan No. Aaacj7079D Assessee By : Sh. Salil Kapoor, Adv., Sh. Sumit Lal Chandani, Adv., Ms. Ananya Kapoor, Adv. & Ms. Pallavi Saigal, Adv. Revenue By : Sh. Sanjay I. Bara, Cit Dr Date Of Hearing :05.03.2019 Date Of Pronouncement : 29.04.2019 Order Per N. S. Saini: This Is An Appeal Filed By The Assessee Against The Order Of Assessing Officer U/S 143(3)/144C(13) Of The Income Tax Act, 1961 Dated 29.10.2018 For Assessment Years 2013-14

For Appellant: Sh. Salil Kapoor, AdvFor Respondent: Sh. Sanjay I. Bara, CIT DR

Section 143(3)Section 144CSection 80Section 80I

…217 ITR 250 (Bom.) " CIT vs. India Tea & Timber Trading Co. 221 ITR 857(Gau) " CIT vs. Geo Tech Construction Corpn: 244 ITR 452 (Ker.) " CIT vs. Refrigeration and Allied Industries Ltd. (2001) 247 ITR 12 (Del) " CIT V. Swarup Vegetable Products India Limited: 277 ITR 60 (All.) " ReflexionsNarayani Impex (P) Ltd. v. ITO: 2013 (3) TMI 434 63 Jindal Steel & Power Ltd. " CIT vs. OswalWoollen Mills Limited: 206 CTR 141 (P&H) " CIT vs. Norplex Oak India : 198 Taxman 470 (Cal) " CIT vs. Premier Industries (India) Ltd.: 323 ITR 672 (MP) " CIT vs. Panacea Biotech Ltd.: 324 ITR 311 (Del.) " CIT vs. Yamaha Motor India Pvt.…

M/S. Kla India Public Ltd., Delhi vs. JCIT, Rohtak

In the result, the appeal of the assessee is allowed

ITA 3332/DEL/2014[2010-11]Status: DisposedITAT Delhi30 Mar 2017AY 2010-11

Bench: : Shri H.S. Sidhu & Shri L.P. Sahu

For Appellant: Sh. Gautam Jain, AdvocateFor Respondent: Sh. Umesh Chand Dubey, Sr. DR

…eciation as there is normal depreciation of value even when a machine is merely kept in a store. It is pointed out that this judgment has been followed by the Allahabad High Court in CIT v. Swarup Vegetable Products India Ltd. (2005) 196 CTR (All) 595: (2005) 277 ITR 60 (all). No contrary view has been shown on behalf of the revenue. Accordingly following judgment of this court in Pepsu Road Transport (supra), We answer this question in favour of the assessee and against the revenue. CIT v. Nahar Exports Ltd., 296 ITR 419 (P&H) 4. Learned counsel for the revenue submitted that unless the machinery is actually u…

Addl Cirt G 3(2), Mumbai vs. Aditya Birla Nuvo Ltd, Mumbai

Appeal of the assessee is partly allowed

ITA 3178/MUM/2012[2008-09]Status: DisposedITAT Mumbai09 Dec 2015AY 2008-09

For Appellant: Shri J.D. MistriFor Respondent: Shri E. Sankaran-CIT(DR)

Section 143(3)Section 145Section 14ASection 254(1)

…see contended in the light of the decision of the jurisdictional High Court in the case of Anil Bulk Carriers P. Ltd. v. Commissioner of Income tax(2005) 276 ITR 625 and in the case of Commissioner of Income tax v. Swarup Vegetable Products India Ltd., (2005) 277 ITR 60, on the subject to depreciation in the value due to passage of time is to be recognized. XXXXXXXX ITA/3033&3178/Mum/12&C.O.-96/13-AY.2008-09,ABNL 21.Coming to the objection of the revenue that spares and catalysts were carried forward from year to year and by the year 2002-03, it had lost its commercial value and therefore, the claim was withou…