CIT v. Tony Electronics Ltd.

375 ITR 431High Court2015#10900 most cited

What is CIT v. Tony Electronics Ltd. authority for?

Foreign exchange fluctuation loss is an allowable business expenditure. Depreciation is an allowable deduction.

10

judgments rely on this decision, according to BharatTax’s citation analysis of 366,315 Indian tax judgments — from 2015 to 2019.

Also referred to as

CIT v. Tony Electronics Ltd. · foreign exchange fluctuation loss · allowable business expenditure · depreciation · allowable deduction · 375 ITR 431 · 185 Taxmann 121

Also reported as

185 Taxmann 121
Read the full judgment

Judgments citing CIT v. Tony Electronics Ltd.

At & T Global Network Services (India) Pvt. Ltd., New Delhi vs. JCIT, Special Range-1, New Delhi

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

ITA 7115/DEL/2017[2013-14]Status: DisposedITAT Delhi27 May 2019AY 2013-14

Bench: Shri R.K. Panda & Smt. Beena A. Pillai

For Appellant: Shri Kanchan Kaushal, AdvocateFor Respondent: Shri H.K. Choudhary, CIT, DR
Section 143(3)Section 144CSection 92C

…able income of the assessee. Referring to the following decisions, the ld. counsel submitted that foreign exchange fluctuation loss is an allowable business expenditure:- i) Woodward Governor India Private Limited, 312 ITR 254 (SC); ii) Tony Electronics Ltd., 375 ITR 431 (Del); and iii) Welspun Zucchi Textiles Ltd., 61 SOT 280 (Mumbai Tribunal). 53. He, however, filed certain additional evidences under Rule 29 of the Income- tax (Appellate Tribunal) Rules, 1963 and requested the Bench to consider the additional evidence which substantiates the veracity of the nature of transaction. 54. The ld. DR, on the other h…

M/S at & T Global Network Services (India) Pvt. Ltd., Gurgaon vs. JCIT, New Delhi

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

ITA 5535/DEL/2016[2012-13]Status: DisposedITAT Delhi27 May 2019AY 2012-13

Bench: Shri R.K. Panda & Smt. Beena A. Pillai

For Appellant: Shri Kanchan Kaushal, AdvocateFor Respondent: Shri H.K. Choudhary, CIT, DR
Section 143(3)Section 144CSection 92C

…able income of the assessee. Referring to the following decisions, the ld. counsel submitted that foreign exchange fluctuation loss is an allowable business expenditure:- i) Woodward Governor India Private Limited, 312 ITR 254 (SC); ii) Tony Electronics Ltd., 375 ITR 431 (Del); and iii) Welspun Zucchi Textiles Ltd., 61 SOT 280 (Mumbai Tribunal). 53. He, however, filed certain additional evidences under Rule 29 of the Income- tax (Appellate Tribunal) Rules, 1963 and requested the Bench to consider the additional evidence which substantiates the veracity of the nature of transaction. 54. The ld. DR, on the other h…

DCIT, New Delhi vs. M/S. National Building Construction Corporation Ltd., New Delhi

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

ITA 3638/DEL/2010[2006-07]Status: DisposedITAT Delhi30 Oct 2015AY 2006-07

Bench: Shri Inturi Rama Rao & Shri Sudhanshu Srivastava

For Appellant: S/sh. (Dr.) Rakesh Gupta & Somil Aggarwal, AdvocatesFor Respondent: Sh. B.D. Mishra, CIT(DR)
Section 143(3)Section 148Section 154

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘E’: NEW DELHI BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER ITA Nos. 3635, 3636, 3637 & 3638 Del/2010 Assessment Years: 2000-01, 2003-04, 2004-05 & 2006-07 DCIT, Circle-13(1), Room No. 406, Vs. National Building Construction Ltd C.R. Building, I.P. Estate, NBCC Bhawan, Lodi Road, New Delhi (PAN: AAACN3053B) (Appellant) (Respondent) And C.O. No. 232/Del/2010 [In ITA No. 3636/Del/2010] Assessment Year: 2003-04 National Building Construction Ltd., Vs. DCIT, Circle-13(1), Room NBCC Bhawan, Lodi Road, No. 406, C.R. Bui…

DCIT, New Delhi vs. M/S. National Building Construction Corporation Ltd., New Delhi

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

ITA 3637/DEL/2010[2004-05]Status: DisposedITAT Delhi30 Oct 2015AY 2004-05

Bench: Shri Inturi Rama Rao & Shri Sudhanshu Srivastava

For Appellant: S/sh. (Dr.) Rakesh Gupta & Somil Aggarwal, AdvocatesFor Respondent: Sh. B.D. Mishra, CIT(DR)
Section 143(3)Section 148Section 154

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘E’: NEW DELHI BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER ITA Nos. 3635, 3636, 3637 & 3638 Del/2010 Assessment Years: 2000-01, 2003-04, 2004-05 & 2006-07 DCIT, Circle-13(1), Room No. 406, Vs. National Building Construction Ltd C.R. Building, I.P. Estate, NBCC Bhawan, Lodi Road, New Delhi (PAN: AAACN3053B) (Appellant) (Respondent) And C.O. No. 232/Del/2010 [In ITA No. 3636/Del/2010] Assessment Year: 2003-04 National Building Construction Ltd., Vs. DCIT, Circle-13(1), Room NBCC Bhawan, Lodi Road, No. 406, C.R. Bui…

DCIT, New Delhi vs. M/S. National Building Construction Corporation Ltd., New Delhi

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

ITA 3636/DEL/2010[2003-04]Status: DisposedITAT Delhi30 Oct 2015AY 2003-04

Bench: Shri Inturi Rama Rao & Shri Sudhanshu Srivastava

For Appellant: S/sh. (Dr.) Rakesh Gupta & Somil Aggarwal, AdvocatesFor Respondent: Sh. B.D. Mishra, CIT(DR)
Section 143(3)Section 148Section 154

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘E’: NEW DELHI BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER ITA Nos. 3635, 3636, 3637 & 3638 Del/2010 Assessment Years: 2000-01, 2003-04, 2004-05 & 2006-07 DCIT, Circle-13(1), Room No. 406, Vs. National Building Construction Ltd C.R. Building, I.P. Estate, NBCC Bhawan, Lodi Road, New Delhi (PAN: AAACN3053B) (Appellant) (Respondent) And C.O. No. 232/Del/2010 [In ITA No. 3636/Del/2010] Assessment Year: 2003-04 National Building Construction Ltd., Vs. DCIT, Circle-13(1), Room NBCC Bhawan, Lodi Road, No. 406, C.R. Bui…

DCIT, New Delhi vs. M/S. National Building Construction Corporation Ltd., New Delhi

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

ITA 3635/DEL/2010[2000-01]Status: DisposedITAT Delhi30 Oct 2015AY 2000-01

Bench: Shri Inturi Rama Rao & Shri Sudhanshu Srivastava

For Appellant: S/sh. (Dr.) Rakesh Gupta & Somil Aggarwal, AdvocatesFor Respondent: Sh. B.D. Mishra, CIT(DR)
Section 143(3)Section 148Section 154

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘E’: NEW DELHI BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER ITA Nos. 3635, 3636, 3637 & 3638 Del/2010 Assessment Years: 2000-01, 2003-04, 2004-05 & 2006-07 DCIT, Circle-13(1), Room No. 406, Vs. National Building Construction Ltd C.R. Building, I.P. Estate, NBCC Bhawan, Lodi Road, New Delhi (PAN: AAACN3053B) (Appellant) (Respondent) And C.O. No. 232/Del/2010 [In ITA No. 3636/Del/2010] Assessment Year: 2003-04 National Building Construction Ltd., Vs. DCIT, Circle-13(1), Room NBCC Bhawan, Lodi Road, No. 406, C.R. Bui…

Commissioner of Income Tax vs. Tonyu Electronics Ltd

ITA/1053/2010HC Delhi05 Oct 2015

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MR. JUSTICE VIBHU BAKHRU

Section 144ASection 801Section 80HSection 80I

…* IN THE HIGH COURT OF DELHI AT NEW DELHI 26 & 30 + ITA 633/2010 THE COMMISSIONER OF INCOME TAX-III ..... Appellant Through: Mr. Rohit Madan, Senior Standing Counsel. versus TONY ELECTRONICS LIMITED Respondent Through: Mr. Satyen Sethi, Advocate. + ITA 1053/2010 THE COMMISSIONER OF INCOME TAX-III Appellant Through: Mr. Rohit Madan, Senior Standing Counsel. versus TONY ELECTRONICS LIMITED Respondent Through: Mr. Satyen Sethi, Advocate. CORAM: DR. JUSTICE S.MURALIDHAR MR. JUSTICE VIBHU BAKHRU ORDER % 05.10.2015 1. ITANo.633/2010 is an appeal bytheRevenue against the order dated 17^ July 2009, passed by the Income T…

Commissioner of Income Tax vs. Tonyu Electronics Ltd

ITA - 1053 / 2010HC Delhi05 Oct 2015
Section 144ASection 801Section 80HSection 80I

…* IN THE HIGH COURT OF DELHI AT NEW DELHI 26 & 30 + ITA 633/2010 THE COMMISSIONER OF INCOME TAX-III ..... Appellant Through: Mr. Rohit Madan, Senior Standing Counsel. versus TONY ELECTRONICS LIMITED Respondent Through: Mr. Satyen Sethi, Advocate. + ITA 1053/2010 THE COMMISSIONER OF INCOME TAX-III Appellant Through: Mr. Rohit Madan, Senior Standing Counsel. versus TONY ELECTRONICS LIMITED Respondent Through: Mr. Satyen Sethi, Advocate. CORAM: DR. JUSTICE S.MURALIDHAR MR. JUSTICE VIBHU BAKHRU ORDER % 05.10.2015 1. ITANo.633/2010 is an appeal bytheRevenue against the order dated 17^ July 2009, passed by the Income T…

Commissioner of Income Tax vs. Tony Electronics Ltd

ITA - 633 / 2010HC Delhi05 Oct 2015
Section 144ASection 801Section 80HSection 80I

…* IN THE HIGH COURT OF DELHI AT NEW DELHI 26 & 30 + ITA 633/2010 THE COMMISSIONER OF INCOME TAX-III ..... Appellant Through: Mr. Rohit Madan, Senior Standing Counsel. versus TONY ELECTRONICS LIMITED Respondent Through: Mr. Satyen Sethi, Advocate. + ITA 1053/2010 THE COMMISSIONER OF INCOME TAX-III Appellant Through: Mr. Rohit Madan, Senior Standing Counsel. versus TONY ELECTRONICS LIMITED Respondent Through: Mr. Satyen Sethi, Advocate. CORAM: DR. JUSTICE S.MURALIDHAR MR. JUSTICE VIBHU BAKHRU ORDER % 05.10.2015 1. ITANo.633/2010 is an appeal bytheRevenue against the order dated 17^ July 2009, passed by the Income T…

The Commissioner of Income Tax-III vs. Tony Electronics Limited

ITA/633/2010HC Delhi05 Oct 2015
Section 144ASection 80HSection 80I

…AT erred in law and on merits in allowing depreciation of Rs.2,82,532 in respect of Namoli Unit? 4. Question (a) is admittedly covered in favour of the Assessee and against the Revenue by the decision of this Court in CIT v. Tony Electronics Ltd. (2015) 375 ITR 431 (Del.). Consequently the Court is not inclined to frame a question of law on this issue. This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 04/04/2026 at 21:53:46 ITA Nos.633 & 1053/2010…