Kali Aerated Water Works v. CIT

242 ITR 79High Court#23909 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 348,631 Indian tax judgments — from 2019 to 2021.

Judgments citing Kali Aerated Water Works v. CIT

Shivnarayan Nemani Shares & Stock Brokers P. Ltd., Mumbai vs. D.C.I.T. Circle 4(2), Mumbai

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

ITA 2522/MUM/2012[2008-09]Status: DisposedITAT Mumbai08 Oct 2021AY 2008-09

Bench: Shri M. Balaganesh, Am & Shri Amarjit Singh, Jm (Hearing Through Video Conferencing Mode) आयकर अपील सं/ I.T.A. No. 2522/Mum/2012 (निर्धारण वर्ा / Assessment Year: 2008-09) M/S. Shivnarayan Nemani बिधम/ Dcit, Circle-4(2) Shares & Stock Brokers P. Mumbai Vs. Ltd. 9/43, Bhupen Chambers, 2Nd Floor, Dalal Street Mumbai- 400023. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aadcs3296C (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Mayank Chauhan (Ar) Revenue By: Shri Rohit Kumar (Dr) सुनवाई की तारीख / Date Of Hearing: 07/09/2021 घोषणा की तारीख /Date Of Pronouncement: 08/10/2021 आदेश / O R D E R Per Amarjit Singh, Jm: The Assessee Has Filed The Present Appeal Against The Order Dated 20.01.2012 Passed By The Commissioner Of Income Tax (Appeals)-09, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y. 2008-09. 2. The Assessee Has Raised The Following Grounds: - “1(A). On The Facts & In The Circumstances Of The Case & In Law, The Learned Commissioner Of Income-Tax(Appeals) Erred In Confirming The Disallowance Of Additional Amount Of Rs.2,98,258/- Under The Provisions Of Section 14A R.W.R. 8D Of The Income Tax Rules

For Appellant: Shri Mayank Chauhan (AR)For Respondent: Shri Rohit Kumar (DR)
Section 14ASection 40

…le Supreme Court in the case of Escorts Ltd. (supra) cannot be said to be militating against the position canvassed by the assessee. 30. I may also refer to the reasoning taken by the Hon’ble Madras High Court in the case of Kali Aerated Water Works vs. CIT, 242 ITR 79 (Mad), in the context of Section 50 of the Act, which was to the effect that Section 50 will apply only to cases where the depreciation had been obtained by “the assessee”. The assessee before the Hon'ble Madras High Court was the new partnership firm formed after dissolution of the old firm. The case of the Revenue was that the WDV as on the date…

Kjmc Capital Market Services Ltd, Mumbai vs. DCIT 4(3), Mumbai

In the result, appeal and cross objections of the assessee are allowed and the appeal of the Revenue is dismissed

ITA 1588/MUM/2012[2008-09]Status: DisposedITAT Mumbai14 Feb 2020AY 2008-09

Bench: Shri Rajesh Kumar & Shri Amarjit Singhassessment Year: 2008-09

For Appellant: Shri Sunil Nahta, A.RFor Respondent: Shri S. Michael Jerald, D.R
Section 2

…le Supreme Court in the case of Escorts Ltd. (supra) cannot be said to be militating against the position canvassed by the assessee. 30. I may also refer to the reasoning taken by the Hon’ble Madras High Court in the case of Kali Aerated Water Works vs. CIT, 242 ITR 79 (Mad), in the context of Section 50 of the Act, which was to the effect that Section 50 will apply only to cases where the depreciation had been obtained by “the assessee”. The assessee before the Hon'ble Madras High Court was the new partnership firm formed after dissolution of the old firm. The case of the Revenue was that the WDV as on the date…

Techno Shares & Stocks Ltd, Mumbai vs. Addl CIT RG 4(2), Mumbai

In the result, the appeal of assessee is allowed

ITA 5938/MUM/2012[2008-09]Status: DisposedITAT Mumbai18 Oct 2019AY 2008-09

Bench: Shri G.S. Pannu() : A.Y : 2008-09

For Appellant: Shri P.J. Pardiwala &For Respondent: Shri B. Srinivas
Section 2Section 255(4)Section 32(1)(ii)Section 45Section 47Section 50Section 55(2)(ab)

…le Supreme Court in the case of Escorts Ltd. (supra) cannot be said to be militating against the position canvassed by the assessee. 30. I may also refer to the reasoning taken by the Hon’ble Madras High Court in the case of Kali Aerated Water Works vs. CIT, 242 ITR 79 (Mad), in the context of Section 50 of the Act, which was to the effect that Section 50 will apply only to cases where the depreciation had been obtained by “the assessee”. The assessee before the Hon'ble Madras High Court was the new partnership firm formed after dissolution of the old firm. The case of the Revenue was that the WDV as on the date…

Kali Aerated Water Works v. CIT (242 ITR 79) — Cited in 3 Judgments | BharatTax