DCIT v. Toyo Engineering India ltd.

33 Taxmann.com 560Reported decision2013#5264 most cited

What is DCIT v. Toyo Engineering India ltd. authority for?

Depreciation is not allowed on goodwill if it arises from book entries and has no identifiable cost of acquisition. This applies even when goodwill is acquired as part of a scheme of arrangement or amalgamation.

22

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2018 to 2025.

Also referred to as

DCIT v. Toyo Engineering India Ltd. · 33 taxmann.com 560 · depreciation on goodwill · opening WDV · section 32(1)(ii) · section 43(1) · section 43(6)(c) · scheme of arrangement · goodwill arising on amalgamation · intangible assets · cost of acquisition

Sections most often in play

Section 142(1)Section 143(3)Section 144BSection 2(1B)Section 230Section 232Section 260Section 32(1)

Issues it is cited on

goodwill arising on amalgamationsection 43(6)(c)section 2(11)section 43(6)scheme of arrangementopening wdvdepreciation on goodwillsection 55section 32(1)(ii)section 43(1)commercial rightsdemerger

Judgments citing DCIT v. Toyo Engineering India ltd.

Rm.K.V.Fabrics Private Limited, Tirunelveli vs. DCIT Circle 1(1), Tirunelveli

In the result, appeal filed by the Revenue in ITA No

ITA 1594/CHNY/2017[2013-14]Status: DisposedITAT Chennai30 Apr 2018AY 2013-14

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

Section 47

…आयकर अपील"य अ"धकरण, ‘सी’ "यायपीठ, चे"नई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH: CHENNAI "ी इंटूर" रामा राव, लेखा सद"य एवं "ी धु"वु" आर.एल रे"डी, "या"यक सद"य के सम" BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI DUVVURU RL REDDY, JUDICIAL MEMBER Q आयकर अपील सं./ITA No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner of Income Tax, M/s. RMKV Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [PAN: AAFCR 4024B] आयकर अपील सं./ITA No.1593/Chny/2017 & Cross appeal by Revenue in ITA No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/s.…

Rm.K.V.Silks Private Limited, Tirunelveli vs. DCIT Circle 1, Tirunelveli

In the result, appeal filed by the Revenue in ITA No

ITA 1593/CHNY/2017[2013-14]Status: DisposedITAT Chennai30 Apr 2018AY 2013-14

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

Section 47

…आयकर अपील"य अ"धकरण, ‘सी’ "यायपीठ, चे"नई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH: CHENNAI "ी इंटूर" रामा राव, लेखा सद"य एवं "ी धु"वु" आर.एल रे"डी, "या"यक सद"य के सम" BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI DUVVURU RL REDDY, JUDICIAL MEMBER Q आयकर अपील सं./ITA No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner of Income Tax, M/s. RMKV Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [PAN: AAFCR 4024B] आयकर अपील सं./ITA No.1593/Chny/2017 & Cross appeal by Revenue in ITA No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/s.…