What is Indian Ginning & Pressing Co. Ltd. v. CIT authority for?

Expenditure incurred on overhauling or reconditioning of machinery that does not result in the creation of new capital assets is allowable as a revenue deduction and not treated as capital expenditure.

How many judgments cite Indian Ginning & Pressing Co. Ltd. v. CIT?

15 judgments on BharatTax cite Indian Ginning & Pressing Co. Ltd. v. CIT (252 ITR 577), spanning 2016 to 2021.

Indian Ginning & Pressing Co. Ltd. v. CIT (252 ITR 577)

Bharat Gears Ltd., New Delhi vs. ACIT, Central Circle- 6, New Delhi

ITA 6933/DEL/2017[2014-15]Status: DisposedITAT Delhi25 Nov 2021AY 2014-15

Bench: Shri R.K. Panda & Shri Kuldip Singh

For Appellant: Shri M.K. Madan, CAFor Respondent: Shri Om Prakash, Senior DR

Section 43B

…case for Assessment Years 1995-96 to 1999-00 order dated 21.07.2006, copy available at pages 12 to 26 of the paper book. Ld. AR for the assessee also relied upon the judgment rendered by Hon’ble Madras High Court in case of Neyelli Lignite Corporation Ltd. 388 ITR 172. 12. However, on the other hand, to repel the arguments addressed by the ld. AR for the assessee, ld. DR for the Revenue vehemently relied upon the Tribunal order passed in assessee’s own case in AY 1994-95 confirmed by Hon’ble High Court and 7 ITA No.315/Del./2017 ITA No.6933/Del./2017 further contended that by overhauling the machine, new as…

M/S Bharat Gears Ltd., New Delhi vs. ACIT, New Delhi

ITA 315/DEL/2017[2013-14]Status: DisposedITAT Delhi25 Nov 2021AY 2013-14

Bench: Shri R.K. Panda & Shri Kuldip Singh

For Appellant: Shri M.K. Madan, CAFor Respondent: Shri Om Prakash, Senior DR

Section 43B

…case for Assessment Years 1995-96 to 1999-00 order dated 21.07.2006, copy available at pages 12 to 26 of the paper book. Ld. AR for the assessee also relied upon the judgment rendered by Hon’ble Madras High Court in case of Neyelli Lignite Corporation Ltd. 388 ITR 172. 12. However, on the other hand, to repel the arguments addressed by the ld. AR for the assessee, ld. DR for the Revenue vehemently relied upon the Tribunal order passed in assessee’s own case in AY 1994-95 confirmed by Hon’ble High Court and 7 ITA No.315/Del./2017 ITA No.6933/Del./2017 further contended that by overhauling the machine, new as…

Jaya Hind Industries Limited, Pune vs. Deputy Commissioner of Income-Tax, Circle - 9, Pune

In the result, the appeal filed by the assessee stands allowed

ITA 2149/PUN/2017[2010-11]Status: DisposedITAT Pune04 Jan 2021AY 2010-11

For Appellant: Shri Mukesh PatelFor Respondent: Shri Sudhendu Das

Section 143(2)Section 143(3)Section 31

…penditure should be treated as revenue and in this connection he placed reliance on the decision of the Hon’ble Madras High Court in the case of Elgi 3 Equipments Ltd. vs. JCIT, 120 taxmann.com 142 and in the case of CIT vs. Neyveli Lignite Corporation Ltd., 388 ITR 172 and also on the decision of Hon’ble Kerala High Court in the case of CIT vs. Midas Rubber (P.) Ltd., 43 taxmann.com 112. 6. On the other hand, ld. Sr. CIT-DR placed reliance on the decision of the ld. CIT(A). 7. We heard the rival submission and perused the material on record. The issue involved in the present appeal relates to whether the expend…

DCIT vs. M/S Timken Engineering and Research Pvt. Ltd., Bangalore

In the result, the appeal of the revenue is partly allowed in the terms indicated above

ITA 469/BANG/2013[2007-08]Status: DisposedITAT Bangalore10 May 2019AY 2007-08

Bench: Shri Arun Kumar Garodia & Shri Laliet Kumar

For Appellant: Shri Aliasger Rampurawala, CAFor Respondent: Shri B.K. Panda, CIT (DR)

Section 133(6)Section 143(3)

…n to capital assets of the assessee and therefore, the same should be allowed as revenue deduction and not be treated as a capital expenditure. Reliance has been placed on following judicial pronouncements. a) Indian Ginning & Pressing Co. Ltd. Vs. CIT [2001] 252 ITR 577 (Guj) b) CIT Vs. Neyveli Lignite Corporation Ltd. (2016) 388 ITR 172 (Mad) c) CIT Vs. MAC Chares (India) Ltd. (2015) 233 Taxman 177 (Kar) 22. At the time of hearing, the bench wanted to see the details of expenditure incurred and in reply it was submitted by ld. AR of assessee that the details are available on page no. 912 of paper book for Asses…

M/S Timken Engineering & Research India P. Ltd vs. DCIT

In the result, the appeal of the revenue is partly allowed in the terms indicated above

ITA 335/BANG/2013[2008-09]Status: DisposedITAT Bangalore10 May 2019AY 2008-09

Bench: Shri Arun Kumar Garodia & Shri Laliet Kumar

For Appellant: Shri Aliasger Rampurawala, CAFor Respondent: Shri B.K. Panda, CIT (DR)

Section 133(6)Section 143(3)

…n to capital assets of the assessee and therefore, the same should be allowed as revenue deduction and not be treated as a capital expenditure. Reliance has been placed on following judicial pronouncements. a) Indian Ginning & Pressing Co. Ltd. Vs. CIT [2001] 252 ITR 577 (Guj) b) CIT Vs. Neyveli Lignite Corporation Ltd. (2016) 388 ITR 172 (Mad) c) CIT Vs. MAC Chares (India) Ltd. (2015) 233 Taxman 177 (Kar) 22. At the time of hearing, the bench wanted to see the details of expenditure incurred and in reply it was submitted by ld. AR of assessee that the details are available on page no. 912 of paper book for Asses…

DCIT, Bangalore vs. M/S Timken Engineering & Research India Pvt. Ltd., Bangalore

In the result, the appeal of the revenue is partly allowed in the terms indicated above

ITA 686/BANG/2012[2007-08]Status: DisposedITAT Bangalore10 May 2019AY 2007-08

Bench: Shri Arun Kumar Garodia & Shri Laliet Kumar

For Appellant: Shri Aliasger Rampurawala, CAFor Respondent: Shri B.K. Panda, CIT (DR)

Section 133(6)Section 143(3)

…n to capital assets of the assessee and therefore, the same should be allowed as revenue deduction and not be treated as a capital expenditure. Reliance has been placed on following judicial pronouncements. a) Indian Ginning & Pressing Co. Ltd. Vs. CIT [2001] 252 ITR 577 (Guj) b) CIT Vs. Neyveli Lignite Corporation Ltd. (2016) 388 ITR 172 (Mad) c) CIT Vs. MAC Chares (India) Ltd. (2015) 233 Taxman 177 (Kar) 22. At the time of hearing, the bench wanted to see the details of expenditure incurred and in reply it was submitted by ld. AR of assessee that the details are available on page no. 912 of paper book for Asses…

Timken Engineering & Research India Private Limited, Bangalore vs. DCIT, Bangalore

In the result, the appeal of the revenue is partly allowed in the terms indicated above

ITA 604/BANG/2012[2007-08]Status: DisposedITAT Bangalore10 May 2019AY 2007-08

Bench: Shri Arun Kumar Garodia & Shri Laliet Kumar

For Appellant: Shri Aliasger Rampurawala, CAFor Respondent: Shri B.K. Panda, CIT (DR)

Section 133(6)Section 143(3)

…n to capital assets of the assessee and therefore, the same should be allowed as revenue deduction and not be treated as a capital expenditure. Reliance has been placed on following judicial pronouncements. a) Indian Ginning & Pressing Co. Ltd. Vs. CIT [2001] 252 ITR 577 (Guj) b) CIT Vs. Neyveli Lignite Corporation Ltd. (2016) 388 ITR 172 (Mad) c) CIT Vs. MAC Chares (India) Ltd. (2015) 233 Taxman 177 (Kar) 22. At the time of hearing, the bench wanted to see the details of expenditure incurred and in reply it was submitted by ld. AR of assessee that the details are available on page no. 912 of paper book for Asses…

M/S. Timken Engineering & Research India Pvt. Ltd., Bangalore vs. DCIT, Bangalore

In the result, the appeal of the revenue is partly allowed in the terms indicated above

ITA 1339/BANG/2010[2006-07]Status: DisposedITAT Bangalore10 May 2019AY 2006-07

Bench: Shri Arun Kumar Garodia & Shri Laliet Kumar

For Appellant: Shri Aliasger Rampurawala, CAFor Respondent: Shri B.K. Panda, CIT (DR)

Section 133(6)Section 143(3)

…n to capital assets of the assessee and therefore, the same should be allowed as revenue deduction and not be treated as a capital expenditure. Reliance has been placed on following judicial pronouncements. a) Indian Ginning & Pressing Co. Ltd. Vs. CIT [2001] 252 ITR 577 (Guj) b) CIT Vs. Neyveli Lignite Corporation Ltd. (2016) 388 ITR 172 (Mad) c) CIT Vs. MAC Chares (India) Ltd. (2015) 233 Taxman 177 (Kar) 22. At the time of hearing, the bench wanted to see the details of expenditure incurred and in reply it was submitted by ld. AR of assessee that the details are available on page no. 912 of paper book for Asses…