CIT v. Yamaha Motor India Pvt. Ltd. (328 ITR 297)

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)

…e Products India Ltd , (277 ITR 60)- Allahabad High Court c. CIT v. Radio Today Broadcasting Ltd (64 taxmann.com 332) – Delhi High Court d. CIT v. Chennai Petroleum Corporation Ltd (37 taxmann.com 332) – Madras High Court e. CIT v. Yamaha Motor India (P) Ltd (328 ITR 297) – Delhi High Court 9. The ld.DR relied on the order of the ld.CIT(A). 10. We have heard both the parties and perused the materials on record. In the present case, main argument of the ld.AR is that consideration paid for a sum of Rs.1.25 crores is only related to the trademark for ‘Jealous’ and it has not related to other trademarks viz., ‘Ana…

GARG ACRYLIC LTD.,DELHI vs. DCIT, CIRCLE-10(1), NEW DELHI

In the result, the appeal of the assessee is allowed

ITA 6965/DEL/2017[2013-14]Status: DisposedITAT Delhi22 Jan 2021AY 2013-14

Bench: Shri Amit Shukla & Shri O.P. Kant

For Appellant: Shri Ashwani Kumar, CA & ShriFor Respondent: Shri Gurmil Singh, Sr.DR

Section 143(3)Section 32

…Act was interpreted to include a case where the asset is 6 I.T.A. No. 6965/DEL/2017 kept ready for use but is not actually put to use. These judgements included, Whittle Anderson Ltd. v. CIT (1971) 79 ITR 613 (Bom); CIT v. Yamaha Motor India Pvt. Ltd. (2010) 328 ITR 297 (Del); CIT v. Vayithri Plantations Ltd. (1981)128 ITR 675 (Mad) and CIT v. Refrigeration and Allied Industries Ltd. (2001) 247 ITR 12 (Del). Further the Hon’ble Delhi High Court in the case of CIT vs. Integrated Technologies Ltd. in ITA No.530/2011 vide judgment and order dated 16th December, 2011 upheld the similar principle that it is not neces…

XEROX INDIA LTD.,GURGAON vs. DCIT, NEW DELHI

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

ITA 2060/DEL/2015[2010-11]Status: DisposedITAT Delhi05 Aug 2020AY 2010-11

Bench: Shri Amit Shukla & Shri O.P. Kant

Section 234BSection 92BSection 92F

…tory as stock-in-trade at Rs.1/-. Therefore, depreciation will continue to be allowed on these assets which have been taken into inventory. Reliance was placed on the decision of Hon’ble Delhi High Court in the case of Yahama Motor India Pvt. Ltd. reported in 328 ITR 297 (Del.). He further submitted that there was no loss to the revenue as the asset taken at Rs.1/- in the inventory whenever these were sold, the entire difference between sale price and cost of Rs.1/- shall be offered to tax as income and ultimately, the revenue will be the net gainer. The assessee has submitted complete details which have been dis…

ACIT, NEW DELHI vs. M/S. CONTAINER CORPORATION OF INDIA LTD., NEW DELHI

In the result, appeal of the assessee is allowed in part for statistical purpose and the appeal of the Revenue is dismissed

ITA 6375/DEL/2016[2011-12]Status: DisposedITAT Delhi22 Jan 2020AY 2011-12

Bench: Shri Prashant Maharishi & Shri K.Narasimha Chary

For Appellant: Shri S. Krishnan, Advocate&For Respondent: Ms. Nidhi Srivastava, CIT-DR

Section 32(1)(ii)Section 80I

…to the disallowance of Rs.3,86,945/-made in respect of depreciation on the assets retired from the active use. It is submitted that this issue is also squarely covered by the decisions in earlier assessment years. In CIT vs. Yamaha motor India Private Limited 328 ITR 297, the Hon’ble jurisdictional High Court held that actual user of the machinery is not required with respect to discarded machinery and the condition which was eligible for depreciation is that the machinery being used for the purpose of the business would mean that the discarded missionary is used for the purpose of the business in the earlier yea…

M/S. CONTAINER CORPORATION OF INDIA LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, appeal of the assessee is allowed in part for statistical purpose and the appeal of the Revenue is dismissed

ITA 5860/DEL/2016[2011-12]Status: DisposedITAT Delhi22 Jan 2020AY 2011-12

Bench: Shri Prashant Maharishi & Shri K.Narasimha Chary

For Appellant: Shri S. Krishnan, Advocate&For Respondent: Ms. Nidhi Srivastava, CIT-DR

Section 32(1)(ii)Section 80I

…to the disallowance of Rs.3,86,945/-made in respect of depreciation on the assets retired from the active use. It is submitted that this issue is also squarely covered by the decisions in earlier assessment years. In CIT vs. Yamaha motor India Private Limited 328 ITR 297, the Hon’ble jurisdictional High Court held that actual user of the machinery is not required with respect to discarded machinery and the condition which was eligible for depreciation is that the machinery being used for the purpose of the business would mean that the discarded missionary is used for the purpose of the business in the earlier yea…