DCIT v. Capital Car Private Limited

114 ITD 286Income Tax Appellate Tribunal#22050 most cited

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

Judgments citing DCIT v. Capital Car Private Limited

Ajanta Network, Bangaluru vs. Income-Tax Officer, Ward-2(2)(4), Bengaluru

In the result, the appeal filed by the assessee is dismissed

ITA 2626/BANG/2017[2012-13]Status: DisposedITAT Bangalore19 Mar 2018AY 2012-13

Bench: Shri Arun Kumar Garodiaassessment Year :2012-13

For Appellant: NoneFor Respondent: Shri L.V. Bhaskar Reddy, Addl. CIT (DR)

Section 32

…of claiming depreciation is not correct. The Supreme Court of India in the case of Alps Theatre 65 ITR 377 has held that cost of land is not entitled to depreciation along with cost of building standing thereon. The ITAT Delhi in case of Capital Cars Pvt Ltd 114 ITD 286 has also decided in similar line. The assessee itself before the AO has submitted the valuation of the godown and guest house buildings. Under such circumstances, the assessee is bound by the working of the value of the land and the super structure submitted by itself. In view of above, the decision of the AO is found to be correct.” 5. I find th…

Tiger Commerce Pvt. Ltd.(Now Primarc Story Venture Pvt. Ltd.), Kolkata vs. ACIT, Circle-3, Kolkata

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

ITA 2049/KOL/2014[2005-2006]Status: DisposedITAT Kolkata06 Dec 2017AY 2005-2006

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri M.Balaganesh, Am ] I.T.A No. 2049/Kol/2014 Assessment Year : 2005-06 Primarc Story Venture Pvt Ltd -Vs- Acit, Circle-3, Kolkata (Formerly Tiger Commerce Pvt Ltd) [Pan: Aabct 8460 B] (Appellant) (Respondent)

For Appellant: Shri Manish Tiwari, ARFor Respondent: Shri David Z. Chowngthu, Addl. CIT, Sr. DR

Section 143(3)

…fically for land and thus depreciation is allowed on entire value. However, the AO relying on the judgment of Hon’ble Supreme Court in the case of CIT Vs. AIPS Theatre 65 ITR 377 and ITAT Bench Delhi in the case of DCIT Vs Capital Car Private Limited reported 114 ITD 286 (Delhi) has assumed the one third value of property as land and thus disallowed the proportionate depreciation on both the property amounting to Rs. 2,65,903/- (114648.00 plus 1,51,255).” It has been held by this Tribunal as under: “11. We have heard the rival contentions and perused the materials available on record. At the outset, we find that…

I.T.O WD - 7(3), Kolkata. vs. M/S Shree Banke Behari Enterprises Private Limited., Kolkata

In the result, Revenue’s appeal stands partly allowed for statistical purpose

ITA 350/KOL/2013[2009-10]Status: DisposedITAT Kolkata26 Aug 2016AY 2009-10

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmedassessment Year :2009-10

Section 143(3)Section 145

…of Hon’ble Supreme Court in the case of CIT Vs. AIPS ITA No.350/Kol/2013 A.Y. 2009-10 ITO Wd-7(3) Kol. vs. M/s Shree Banke Behari Enterprises Pvt. Ltd. Page 5 Theatre 65 ITR 377 and ITAT Bench Delhi in the case of DCIT Vs Capital Car Private Limited reported 114 ITD 286 (Delhi) has assumed the one third value of property as land and thus disallowed the proportionate depreciation on both the property amounting to Rs. 2,65,903/- (114648.00 plus 1,51,255). 9. Aggrieved, assessee preferred an appeal to ld. CIT(A) who has deleted the addition made by the AO by observing that AO has assumed one third of the cost as l…