Dr Aswath N Rao v. ACIT

326 ITR 188Reported decision2010#24492 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2017 to 2020.

Judgments citing Dr Aswath N Rao v. ACIT

M/S Sahney Commutators Pvt Ltd, Bangalore vs. The Deputy Commissioner of Income Tax Circle-6(1)(1), Bangalore

In the result, the appeal filed by the assessee is treated as allowed for statistical purposes

ITA 421/BANG/2017[2012-13]Status: DisposedITAT Bangalore18 Sept 2020AY 2012-13

Bench: Shri B. R. Baskaran & Smt. Beena Pillaiassessment Year: 2012 – 13

For Appellant: Shri S. Parthasarathi, A.RFor Respondent: Shri Priyadarshi Mishra, D.R

Section 40

…o determine an expenditure as capital in nature. The Ld. A.R. placed his reliance on the decision rendered by Hon’ble Karnataka High Court in the case of Dr. ITA No.421 /Bang/2017 M/s. Sahney Commutators, Bangalore Page 5 of 9 Ashwat N. Rao Vs. ACIT (2010) 326 ITR 188 in support of its contentions. 6. The Ld. D.R., on the contrary, supported the order passed by the Ld. CIT(A) and submitted that the nature of expenses incurred by the assessee provide benefit of enduring nature and hence the tax authorities have categorised this expenditure as capital in nature. 7. In the rejoinder, the Ld. A.R. submitted that…

M/S.True Value Steels, Mumbai vs. Income Tax Officer-29(3)(2), Mumbai

In the result, the appeal of the assessee is hereby ordered to be allowed

ITA 998/MUM/2019[2011-12]Status: DisposedITAT Mumbai26 Jun 2019AY 2011-12

For Appellant: Shri Bhadresh DoshiFor Respondent: Shri R. Manjunatha Swamy

Section 143(3)Section 147Section 263

…ame is accepted by the AO, resulting in prejudice caused to the Revenue‟. In so far as discussion in para 5 is concerned, he refers to the judgment of Hon‟ble Karnataka High Court relied upon by the assessee before him in the case of Dr Aswath N Rao vs. ACIT [326 ITR 188]. The assessee had relied upon the said judgment for the proposition that the cost of spare parts procured for the maintenance of the existing machineries were to be treated as revenue expenditure. The Commissioner notes that part of the spares are capitalized and that assessee was also making the provision for slow moving inventories of spares,…

Ambuja Cement Ltd, Mumbai vs. CIT Ltu, Mumbai

Appeal is allowed

ITA 3563/MUM/2016[2010-11]Status: DisposedITAT Mumbai10 Nov 2017AY 2010-11

Bench: Shri G S Pannu & Shri Ram Lal Negiassessment Year : 2010-11 Ambuja Cements Limited Cit Ltu, (Formerly Known As Gujarat Mumbai. Vs. Ambuja Cement Limited), Elegant Business Park, Midc Cross Road B, Andheri (E), Mumbai 400 059. Pan Aacg0569P (Appellant) Respondent)

For Appellant: Shri Soumen AdakFor Respondent: Shri R P Meena

Section 115JSection 143(3)Section 263

…is accepted by the AO, resulting in prejudice caused to the Revenue’. In so far as discussion in para 5 is concerned, he refers to the judgment of Hon’ble Karnataka High Court relied upon by the assessee before him in the case of Dr Aswath N Rao vs. ACIT [326 ITR 188]. The assessee had relied upon the said judgment for the proposition that the cost of spare parts procured for the maintenance of the existing machineries were to be treated as revenue expenditure. The Commissioner notes that part of the spares are capitalized and that assessee was also making the provision for slow moving inventories of spare…