Indian Petrochemicals Corporation Ltd. v. Deputy

81 ITD 263Income Tax Appellate Tribunal#25693 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 348,631 Indian tax judgments — from 2016 to 2017.

Judgments citing Indian Petrochemicals Corporation Ltd. v. Deputy

M/S Hero Honda Motors Ltd, New Delhi vs. DCIT, New Delhi

In the result, appeal filed by the assessee is allowed

ITA 2148/DEL/2009[2004-05]Status: DisposedITAT Delhi02 Feb 2017AY 2004-05

Bench: Sh C.M.Garg & Shri Prashant Maharishihero Honda Motors Ltd, Dcit, 34, Basant Lok, Vasant Vihar, Circle-12(1), Vs. New Delhi New Delhi Pan:Aaacg0812J (Appellant) (Respondent)

For Appellant: Sh. Ajay Vohra, Sr. AdvFor Respondent: Sh. AK Saroha, CIT DR
Section 143(3)Section 195Section 263Section 32Section 37(1)Section 40Section 9

…essee by way of lump xi/m consideration payable for obtaining technical know-how etc, for manufacture of Radial Tyres is clearly allowable as Revenue expenditure". The Ahmedabad Bench of Tribunal in the case of Indian Petrochemicals Corporation Ltd. vs. DCIT: 81 ITD 263 held the lump sum payment made by the assessee for acquiring technical know-how for improving its existing products and for extending the range of its existing business and/or for expanding the said business was clearly allowable as revenue expenditure. The emphasis in all the aforesaid decisions was that if the payment is made for exclusive acqui…

M/S. the Hindustan Sewing & Weaving Mills Ltd., Mumbai vs. DCIT Cir. 2(1), Mumbai

The appeal of the assessee is allowed on this account

ITA 3822/MUM/2003[1996-1997]Status: DisposedITAT Mumbai30 Jun 2016AY 1996-1997

Bench: Shri G.S. Pannu & Shri Sanjay Garg

For Appellant: Shri K. K. Ved, A.RFor Respondent: Shri S. Senthil Kumar, D.R
Section 10(3)Section 143(3)Section 246Section 45Section 55

…rival contentions and gone through the following case laws as cited by the assessee:- -Commissioner of Income Tax V TTG Industries Ltd 2012 24 taxmann.com 129 (Madras High Court) -Indian Petrochemicals Corporation Ltd V Deputy commissioner of Income Tax 2002 81 ITD 263 (ITAT Ahm.) -Deputy Commissioner of Income Tax V Metalman Auto (P) Ltd 78 ITD 327 ITAT Chandigarh. 26. In particular, the following observation in the case of Deputy Commissioner of Income Tax V Metalman Auto (P) Ltd (supra) is relevant:- “The assessee’s right to have the payments made for obtaining the use of Technical know-how allowed as revenu…

DCIT Cir. 2(1), Mumbai vs. M/S. Hindustan Spinning & Weaving Mill Ltd., Mumbai

The appeal of the assessee is allowed on this account

ITA 3622/MUM/2003[1996-1997]Status: DisposedITAT Mumbai30 Jun 2016AY 1996-1997

Bench: Shri G.S. Pannu & Shri Sanjay Garg

For Appellant: Shri K. K. Ved, A.RFor Respondent: Shri S. Senthil Kumar, D.R
Section 10(3)Section 143(3)Section 246Section 45Section 55

…rival contentions and gone through the following case laws as cited by the assessee:- -Commissioner of Income Tax V TTG Industries Ltd 2012 24 taxmann.com 129 (Madras High Court) -Indian Petrochemicals Corporation Ltd V Deputy commissioner of Income Tax 2002 81 ITD 263 (ITAT Ahm.) -Deputy Commissioner of Income Tax V Metalman Auto (P) Ltd 78 ITD 327 ITAT Chandigarh. 26. In particular, the following observation in the case of Deputy Commissioner of Income Tax V Metalman Auto (P) Ltd (supra) is relevant:- “The assessee’s right to have the payments made for obtaining the use of Technical know-how allowed as revenu…

Indian Petrochemicals Corporation Ltd. v. Deputy (81 ITD 263) — Cited in 3 Judgments | BharatTax