Commissioner Of Income-Tax v. H.M.T. Ltd. on 21 March

199 ITR 235High Court1993#17103 most cited
5

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2016 to 2018.

Judgments citing Commissioner Of Income-Tax v. H.M.T. Ltd. on 21 March

ACIT, Central Circle - 1(1), Kolkata vs. M/S. Orissa Manganese & Minerals Ltd., Kolkata

In the result, the appeal filed by the Revenue is partly allowed

ITA 2153/KOL/2017[2013-14]Status: DisposedITAT Kolkata20 Dec 2018AY 2013-14

Bench: Sh. P.M.Jagtap & Sh. S.S.Viswanethra Ravi

…A) placed reliance in the case of Gwalior Rayon Silk Manufacturing Co. Ltd. reported in 196 ITR 149(SC) which held that roads constructed by the assessee in factory premises forms of part of building. The CIT(A) further placed reliance in the case of HMT Ltd. 199 ITR 235 (Karnataka) of Hon’ble High Court of Karnataka which held that roads, walls and fences are regarded as part of building. Therefore, taking into consideration the law laid down by the Hon’ble Supreme Court and Hon’ble High Court of Karanatka, we find no infirmity in the order of the CIT(A) in holding that the assessee is entitled to claim deprecia…

ACIT, Central Circle - 1(1), Kolkata vs. M/S. Orissa Manganese & Minerals Ltd., Kolkata

In the result, the appeal filed by the Revenue is partly allowed

ITA 2152/KOL/2017[2012-13]Status: DisposedITAT Kolkata20 Dec 2018AY 2012-13

Bench: Sh. P.M.Jagtap & Sh. S.S.Viswanethra Ravi

…A) placed reliance in the case of Gwalior Rayon Silk Manufacturing Co. Ltd. reported in 196 ITR 149(SC) which held that roads constructed by the assessee in factory premises forms of part of building. The CIT(A) further placed reliance in the case of HMT Ltd. 199 ITR 235 (Karnataka) of Hon’ble High Court of Karnataka which held that roads, walls and fences are regarded as part of building. Therefore, taking into consideration the law laid down by the Hon’ble Supreme Court and Hon’ble High Court of Karanatka, we find no infirmity in the order of the CIT(A) in holding that the assessee is entitled to claim deprecia…

ACIT, Central Circle - 1(1), Kolkata vs. M/S. Orissa Manganese & Minerals Ltd., Kolkata

In the result, the appeal filed by the Revenue is partly allowed

ITA 2150/KOL/2017[2009-10]Status: DisposedITAT Kolkata20 Dec 2018AY 2009-10

Bench: Sh. P.M.Jagtap & Sh. S.S.Viswanethra Ravi

…A) placed reliance in the case of Gwalior Rayon Silk Manufacturing Co. Ltd. reported in 196 ITR 149(SC) which held that roads constructed by the assessee in factory premises forms of part of building. The CIT(A) further placed reliance in the case of HMT Ltd. 199 ITR 235 (Karnataka) of Hon’ble High Court of Karnataka which held that roads, walls and fences are regarded as part of building. Therefore, taking into consideration the law laid down by the Hon’ble Supreme Court and Hon’ble High Court of Karanatka, we find no infirmity in the order of the CIT(A) in holding that the assessee is entitled to claim deprecia…

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

Appeal are dismissed

ITA 2609/DEL/2015[2011-12]Status: DisposedITAT Delhi04 Oct 2018AY 2011-12

Bench: Shri R. K. Panda & Ms Suchitra Kambledcit Vs Ultra International Ltd. Circle-27(1), Room No. 193, 304, Avg Bhawan, M-3, C.R. Building Connaught Circus New Delhi New Delhi Aaacu1089Q (Appellant) (Respondent)

Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 35Section 35(1)Section 35(1)(iv)Section 37Section 37(1)

…ii) The Hon’ble Delhi High Court in case of the Commissioner Of Income Tax -V vs Panacea Biotech Ltd. on 27 July, 2009 in ITA No. 422/2007 iii) The Hon’ble Karnatka High Court in case of the Commissioner Of Income-Tax vs H.M.T. Ltd. on 21 March, 1992 - 1993 199 ITR 235 KAR iv) The Hon’ble Gujarat High Court in case of the Commissioner Of Income- Tax vs Gujarat Aluminium Extrusions 2003 263 ITR 453 Guj The Ld. AR further submitted that the Ground nos.1 & 2 of the revenue are tax neutral as the R&D machine had been delivered and installed in the next financial year. The Ld. AR submitted that if in any case the…

DCIT 10(3)(2), Mumbai vs. Phoenix Mecano (I) Pltd, Mumbai

In the result, appeal of the Revenue is allowed

ITA 4620/MUM/2015[2011-12]Status: DisposedITAT Mumbai12 Aug 2016AY 2011-12

Bench: Shri Joginder Singh, Assessment Year:2011-12

Section 10ASection 10BSection 70Section 80A(1)Section 80B(5)Section 80C

…have to be rejected." (p. 107) 14. All these judgments would support the argument that calculation cannot be at the whims and fancies of an assessee for exemption of tax. It has to be in accordance with the provisions of the Act. 15. CIT v. H.MT. Ltd. [1993] 199 ITR 235 (Kar.) is pressed into service by Sri Parthasarathi, learned counsel. We have carefully gone through the said judgment. In the said judgment, the Division Bench of the High Court has no doubt ruled that computation of profits and gains of new unit may be made without deducting depreciation and investment allowance. But the facts of the present ca…