Mysore Mineral Ltd. v. CIT

239 ITR 755Supreme Court of India1999#23872 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 346,713 Indian tax judgments — from 2020 to 2024.

Judgments citing Mysore Mineral Ltd. v. CIT

DCIT, C-1, Kolkata vs. Naba Dignata Water Management Ltd., Kolkata

In the result, appeal of the Revenus is hereby dismissed and cross objection filed by the assessee is not press in view of our findings on forgoing

ITA 887/KOL/2023[2011-12]Status: DisposedITAT Kolkata28 Aug 2024AY 2011-12

Bench: proceeding for disallowances the AO has conducted necessary examination and ground work, which are evident from the recordings of note-sheet.

Section 147Section 250Section 32(1)(ii)

…e's instant arguments seeking to revive the impugned depreciation disallowance on account of the fact that the assessee does not enjoy ownership or title over the relevant block of assets. Hon'ble apex court's landmark decision in Mysore Minerals u CIT [1999] 239 ITR 755 (SC) settled the law long back that the legislative intention behind enactment of Section32 in the Act would be best fulfilled by allowing depreciation to the person in whom; for the time being, vests the dominion or who is entitled to use the relevant assets in his own right and is using the same for the purpose of the business or profession. Wh…

Shree Veer Buildbest Private Limited, Ahmedabad vs. The Income Tax Officer, Ward-8(3) Now Ward-4(1)(1), Ahmedabad

ITA 892/AHD/2023[2011-12]Status: DisposedITAT Ahmedabad23 Jul 2024AY 2011-12

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita No.892/Ahd/2023 "नधा"रण वष" /Assessment Year : 2011-12 Shree Veer Buildbest Pvt.Ltd. The Ito बनाम/ 302, Swapneel – 5 Ward-4(1)(1) Commerce Six Road Ahmedabad- 380 015 V/S. Navrangpura Ahmedabad – 380 009 "थायी लेखा सं./Pan: Aakcs 8358 Q अपीलाथ"/ (Appellant) ….. "" यथ"/ (Respondent) Assessee By : Shri Aseem L. Thakkar, Ar Revenue By : Shri Ashok Kumar Suthar, Sr.Dr सुनवाई क" तार"ख/Date Of Hearing : 15/07/2024 घोषणा क" तार"ख /Date Of Pronouncement: 23/07/2024 आदेश/O R D E R Per Shri Makarand V. Mahadeokar, Am: This Appeal Is Filed By The Assessee As Against The Order Dated 21/09/2023 Passed By The Commissioner Of Income-Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi [Hereinafter Referred To As “ The Ld.Cit(A)” In Short], Arising Out Of The Assessment Order Dated 28/03/2014 Passed By The Assessing Officer (Ao) Under Section 143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As "The Act") Relevant To The Assessment Year (Ay) 2011-12. Shree Veer Buildbest Pvt.Ltd. Vs. Ito Asst. Year : 2011-12

For Appellant: Shri Aseem L. Thakkar, ARFor Respondent: Shri Ashok Kumar Suthar, Sr.DR

Section 133(6)Section 143(1)Section 143(2)Section 143(3)Section 68

…sputed this fact. The utilization of computers in the performance of the business operations has not been challenged by the AO. The Ld.Counsel for the assessee placed reliance on judgement of Hon’ble Supreme Court in case of Mysore Mineral Ltd. Vs. CIT (1999) 239 ITR 755 (SC). 5.1. The Ld.Counsel for the assessee contended that the AO has not considered the principle of beneficial ownership of assets while disallowing depreciation and disallowed the same. 6. The Ld.Departmental Representative relied on the orders of lower authorities. Shree Veer Buildbest Pvt.Ltd. vs. ITO Asst. Year : 2011-12 6 7. We have hea…

DCIT, Circle - 2(2), Kolkata vs. Naba Diganta Water Management Limited, Kolkata

Appeal is dismissed

ITA 1794/KOL/2019[2013-14]Status: DisposedITAT Kolkata21 Oct 2020AY 2013-14

Bench: Shri P.M.Jagtap, Vice- & Shri S.S.Godaraassessment Year:2013-14 Dcit, Circle-2(2) M/S Naba Diganta Water Aayakar Bhawan, Room Management Ltd., Gn-11- बनाम / No. 24, 7Th Floor, P-7, 19, Salt Lake, Sector-V, Vs. Chowringhee Square, Kolkata-700 091 Kolkata-700 069 [Pan No.Aaccn 6958 P] .. अपीलाथ" /Appellant ""यथ" /Respondent

Section 143(3)Section 32(1)(ii)

…o transmit it to others .... The right of one or more persons or use a thing to the exclusion of others." The AR. has relied upon the decision of the Hon'ble Supreme Court in case of ICDS Ltd vs. CIT (2013) 350 ITR 527 (SC) and in Mysore Minerals v CIT [1999] 239 ITR 755, wherein the term "Owner" in the context of depreciation belongs to a person, who has invested in the assets; is utilizing the asset; thereby gradually losing the value of investment on account of wear and tear of the asset. Further, reliance written submission also placed on decision of the Hyderabad Tribunal in case of DCIT vs. Swarna Tollway P…