Industries (P) Ltd. v. CIT

41 ITD 530Income Tax Appellate Tribunal1992#9768 most cited

What is Industries (P) Ltd. v. CIT authority for?

The Income Tax Appellate Tribunal's decision in Super Cassettes Industries Pvt. Ltd. v. CIT upholds the deletion of additions made by the Assessing Officer concerning royalty expenses, treating them as revenue expenditure. This decision emphasizes that payments made to acquire raw material, even with initial lump-sum payments, are revenue in nature and not capital.

11

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2014 to 2020.

Also referred to as

Super Cassettes Industries Pvt Ltd v CIT · 41 ITD 530 · royalty expenses · revenue expenditure · capital expenditure · raw material · master plate · ITAT · assessing officer addition deleted

Judgments citing Industries (P) Ltd. v. CIT

Kisan Steel Corporation, Ghaziabad vs. Pr. CIT, Ghaziabad

In the result the appeal filed by the assessee is allowed

ITA 5362/DEL/2019[2014-15]Status: DisposedITAT Delhi29 Oct 2020AY 2014-15

Bench: Shri R.K. Panda & Ms Suchitra Kambleasstt. Year 2014-15

For Appellant: Shri Raj Kumar Gupta, CAFor Respondent: Shri JayMishra, CIT (DR)

Section 143(3)Section 263

…ass order u/s 263 merely because he has a different opinion in the matter. Such a course of action is open only in cases of lack of enquiry. Referring to decision of the Delhi Bench of the Tribunal in the case of Super Caseete Industries Pvt. Ltd. reported in 41 ITD 530 (Del) he submitted that the Tribunal relying on various decisions has held that section 263 is not intended for change of opinion and cannot be invoked to take a different view from subordinate officer. He also relied on the following decisions : 1. Ganpat Rai Bishnoi 152 Taxman 242 (Raj.) 2. Salora International Ltd. (2005) 2 SOT 705 (Del.) 3. S…

DCIT, Cir-3(1), Kolkata vs. M/S Saregama India Ltd, Kolkata

ITA 473/KOL/2017[2006-07]Status: DisposedITAT Kolkata29 Jan 2020AY 2006-07

Bench: Shri S.S.Godara & Dr. A.L. Saini

…rial and therefore applying the principle laid down by the Supreme Court the said expenditure was held to be revenue in nature. Reference in this regard is also made to the decision of the Hon'ble Delhi Tribunal In Super cassettes Industries (P) Ltd. vs. CIT [41 ITD 530 (Del) where besides making payment of royalty some initial payments was also made which has also been treated as revenue expenditure on the ground that the payment was made to obtain raw material for the business of the assessee. It was held that the "master plate" could be termed as raw material and the activity of the assessee was absolutely tha…

DCIT, Cir-3(1), Kolkata vs. M/S Saregama India Ltd, Kolkata

ITA 472/KOL/2017[2005-06]Status: DisposedITAT Kolkata29 Jan 2020AY 2005-06

Bench: Shri S.S.Godara & Dr. A.L. Saini

…rial and therefore applying the principle laid down by the Supreme Court the said expenditure was held to be revenue in nature. Reference in this regard is also made to the decision of the Hon'ble Delhi Tribunal In Super cassettes Industries (P) Ltd. vs. CIT [41 ITD 530 (Del) where besides making payment of royalty some initial payments was also made which has also been treated as revenue expenditure on the ground that the payment was made to obtain raw material for the business of the assessee. It was held that the "master plate" could be termed as raw material and the activity of the assessee was absolutely tha…

DCIT, Cir-3(1), Kolkata vs. M/S Saregama India Ltd, Kolkata

ITA 471/KOL/2017[2004-05]Status: DisposedITAT Kolkata29 Jan 2020AY 2004-05

Bench: Shri S.S.Godara & Dr. A.L. Saini

…rial and therefore applying the principle laid down by the Supreme Court the said expenditure was held to be revenue in nature. Reference in this regard is also made to the decision of the Hon'ble Delhi Tribunal In Super cassettes Industries (P) Ltd. vs. CIT [41 ITD 530 (Del) where besides making payment of royalty some initial payments was also made which has also been treated as revenue expenditure on the ground that the payment was made to obtain raw material for the business of the assessee. It was held that the "master plate" could be termed as raw material and the activity of the assessee was absolutely tha…

DCIT, Cir-3(1), Kolkata vs. M/S Saregama India Ltd, Kolkata

ITA 470/KOL/2017[2003-04]Status: DisposedITAT Kolkata29 Jan 2020AY 2003-04

Bench: Shri S.S.Godara & Dr. A.L. Saini

…rial and therefore applying the principle laid down by the Supreme Court the said expenditure was held to be revenue in nature. Reference in this regard is also made to the decision of the Hon'ble Delhi Tribunal In Super cassettes Industries (P) Ltd. vs. CIT [41 ITD 530 (Del) where besides making payment of royalty some initial payments was also made which has also been treated as revenue expenditure on the ground that the payment was made to obtain raw material for the business of the assessee. It was held that the "master plate" could be termed as raw material and the activity of the assessee was absolutely tha…

M/S Saregama India Limited, Kolkata vs. DCIT, Cir.-3(1), Kolkata

ITA 312/KOL/2017[2010-11]Status: DisposedITAT Kolkata29 Jan 2020AY 2010-11

Bench: Shri S.S.Godara & Dr. A.L. Saini

…rial and therefore applying the principle laid down by the Supreme Court the said expenditure was held to be revenue in nature. Reference in this regard is also made to the decision of the Hon'ble Delhi Tribunal In Super cassettes Industries (P) Ltd. vs. CIT [41 ITD 530 (Del) where besides making payment of royalty some initial payments was also made which has also been treated as revenue expenditure on the ground that the payment was made to obtain raw material for the business of the assessee. It was held that the "master plate" could be termed as raw material and the activity of the assessee was absolutely tha…

M/S Saregama India Limited, Kolkata vs. DCIT, Cir.-3(1), Kolkata

ITA 310/KOL/2017[2004-05]Status: DisposedITAT Kolkata29 Jan 2020AY 2004-05

Bench: Shri S.S.Godara & Dr. A.L. Saini

…rial and therefore applying the principle laid down by the Supreme Court the said expenditure was held to be revenue in nature. Reference in this regard is also made to the decision of the Hon'ble Delhi Tribunal In Super cassettes Industries (P) Ltd. vs. CIT [41 ITD 530 (Del) where besides making payment of royalty some initial payments was also made which has also been treated as revenue expenditure on the ground that the payment was made to obtain raw material for the business of the assessee. It was held that the "master plate" could be termed as raw material and the activity of the assessee was absolutely tha…

M/S Saregama India Limited, Kolkata vs. DCIT, Cir.-3(1), Kolkata

ITA 309/KOL/2017[2003-04]Status: DisposedITAT Kolkata29 Jan 2020AY 2003-04

Bench: Shri S.S.Godara & Dr. A.L. Saini

…rial and therefore applying the principle laid down by the Supreme Court the said expenditure was held to be revenue in nature. Reference in this regard is also made to the decision of the Hon'ble Delhi Tribunal In Super cassettes Industries (P) Ltd. vs. CIT [41 ITD 530 (Del) where besides making payment of royalty some initial payments was also made which has also been treated as revenue expenditure on the ground that the payment was made to obtain raw material for the business of the assessee. It was held that the "master plate" could be termed as raw material and the activity of the assessee was absolutely tha…

DCIT, Bangalore vs. Sri. Ramprasad Padmanabhan, Bangalore

In the result, Revenue’s appeal for Assessment Year 2006-07 is dismissed

ITA 718/BANG/2014[2006-07]Status: DisposedITAT Bangalore20 Feb 2015AY 2006-07

Bench: Shri Rajpal Yadav & Shri Jason P. Boaz

For Appellant: Dr. K. Shankar Prasad, JCIT (D.R)For Respondent: None

Section 143(3)Section 147Section 148

…oming to this finding, the learned CIT(A) was of the view that the findings rendered in the following decisions of various Tribunals squarely covered the issue in favour of the assessee in the case on hand :- i) Super Cassettes Industries P. Ltd. V CIT (1992) 41 ITD 530 (Del) ii) M. Subramanian V DCIT (1992) 42 ITD 676 (Mad) iii) Gramaphone Co. Of India Ltd. V DCIT (1994) 48 ITD 145 (Cal) iv) Tips Cassettes & Record Co. V ACIT (2002) 82 ITD 641 (Mum) v) ITO V Five Star Audio (ITA No.1921/Mds/2012). 5.2.4 From an appreciation the details on record, the orders of the authorities below and the judicial decisions cit…

Commissioner of Income Tax vs. Shri Krishan Kumar

The appeals stand dismissed

ITA - 50 / 2000HC Delhi02 Dec 2014

…by the Assessing Officer of Rs. 1,50,500/- was deleted. 7. In appeal filed by the appellant-Revenue, the Income Tax Appellate Tribunal („Tribunal‟ in short) referred to its earlier judgment in the case of Super Cassettes Industries Pvt. Ltd., [1992] 41 ITD 530 to upheld the order of the CIT(A). ITA No. 457/2004 8. For the Assessment Year 1993-94, the following substantial question of law was framed by this Court: 2014:DHC:6619-DB ITA No.50/2000 & connected appeals Page 5 of 33 “Whether the ITAT was corre…

Commissioner of Income Tax vs. Shri Krishan Kumar

The appeals stand dismissed

ITA/50/2000HC Delhi02 Dec 2014

…by the Assessing Officer of Rs. 1,50,500/- was deleted. 7. In appeal filed by the appellant-Revenue, the Income Tax Appellate Tribunal („Tribunal‟ in short) referred to its earlier judgment in the case of Super Cassettes Industries Pvt. Ltd., [1992] 41 ITD 530 to upheld the order of the CIT(A). ITA No. 457/2004 8. For the Assessment Year 1993-94, the following substantial question of law was framed by this Court: 2014:DHC:6619-DB ITA No.50/2000 & connected appeals Page 5 of 33 “Whether the ITAT was corre…