Mysore Minerals Ltd. v. CIT

239 ITR 775Supreme Court of India1999#419 most cited

What is Mysore Minerals Ltd. v. CIT authority for?

For income tax purposes, the 'owner' of a property is the person who is entitled to receive income in their own right, bears the risks incidental to ownership, and utilizes the asset, even if the sale deed is not formally registered. This beneficial ownership is sufficient for claiming depreciation or capital gains exemption under relevant sections.

215

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2012 to 2026.

Also referred to as

Mysore Minerals Ltd v CIT · 239 ITR 775 · Section 32 · Section 54 · Section 22 · definition of owner · beneficial ownership · depreciation claim · registration of sale deed not mandatory · real owner · capital gains exemption · Income from House Property

Also reported as

106 Taxmann 166

Sections most often in play

Section 143(3)Section 142(1)Section 147Section 32Section 148Section 53ASection 54FSection 234A

Issues it is cited on

section 53asection 53section 32(1)put to usesection 32intangible assetscapital expenditurerevenue expenditurelong term capital gainsection 26transferreasonable cause

Judgments citing Mysore Minerals Ltd. v. CIT

JCIT, Rang-2, Kota vs. Chambal Fertilisers and Chemicals Limited, Kota

In the result, respective grounds of appeal are allowed for statistical purposes

ITA 575/JPR/2015[2011-12]Status: DisposedITAT Jaipur17 Oct 2018AY 2011-12
For Appellant: Shri Percy Pardiwala (Adv.)For Respondent: Shri Varinder Mehta (CIT)
Section 14A

…he anicut and the benefits accruing there from. The assessee has the dominion and control over anicut to the exclusion of others. Thereafter, the Assessing Officer referred to the decision of Hon’ble Supreme Court in case of Mysore Minerals Ltd. vs CIT (1999) 239 ITR 775 wherein it was held that building owned by the assessee means the persons who having acquired possession over the building in his own right, uses the same for the purpose of his business or profession though a legal title has not been conveyed to him as per the requirements of laws such as the transfer of Property Act and the Registration Act, bu…

Chambal Fertilisers and Chemicals Limited, Kota vs. JCIT, Kota

In the result, respective grounds of appeal are allowed for statistical purposes

ITA 461/JPR/2015[2011-12]Status: DisposedITAT Jaipur17 Oct 2018AY 2011-12
For Appellant: Shri Percy Pardiwala (Adv.)For Respondent: Shri Varinder Mehta (CIT)
Section 14A

…he anicut and the benefits accruing there from. The assessee has the dominion and control over anicut to the exclusion of others. Thereafter, the Assessing Officer referred to the decision of Hon’ble Supreme Court in case of Mysore Minerals Ltd. vs CIT (1999) 239 ITR 775 wherein it was held that building owned by the assessee means the persons who having acquired possession over the building in his own right, uses the same for the purpose of his business or profession though a legal title has not been conveyed to him as per the requirements of laws such as the transfer of Property Act and the Registration Act, bu…

M/S Chandigarh Bottling Co., Chandigarh vs. ACIT, Chandigarh

In the result, appeals of the assessee are allowed

ITA 605/CHANDI/2011[2006-07]Status: DisposedITAT Chandigarh29 Aug 2018AY 2006-07

Bench: Ms. Diva Singh & Dr.B.R.R.Kumar & Assessment Year: 2006-07

For Appellant: Shri Tej Mohan SinghFor Respondent: Smt.Chander Kanta, Sr.DR

…ant is wrong in saying to the contrary in this ground of appeal. The appellant was the owner of the building and the land even though registered deed was not executed. This issue stands covered by 3 decisions of the Hon'ble Apex Court reported in 226 ITR 625; 231 ITR 775 & 249 ITR 214, wherein it has been held that registered deed is not a prerequisite for ownership with reference to section 32(1) of the Income Tax Act, 1961. 13 Respectfully following the decision of Hon'ble Supreme Court, I hold that transfer of land & building to Sh. Jaspal Singh during the year under appeal was sold and the Assessing Officer w…

ITO 6(1)(3), Mumbai vs. Banglore Shirt Co. Pvt. Ltd., Mumbai

In the result, appeal of the Revenue is dismissed

ITA 6042/MUM/2016[2012-13]Status: DisposedITAT Mumbai08 Aug 2018AY 2012-13

Bench: Shri R.C. Sharma, Hon'Ble & Shri C.N. Prasad, Hon'Bleincome Tax Officer – 6(1)(3) V. M/S. Banglore Shirt Company Pvt. Ltd., R.No. 508, 5Th Floor, 115, Cama Industrial Estate, Sun Mill Compound, Lower Parel (W), Aayakar Bhavan, M.K. Road, Mumbai – 400 021 Mumbai-400 020 Pan: Aaacb 2193 G

For Appellant: Shri S.L. JainFor Respondent: Shri V. Vidhyadhar
Section 139

…claimed as deduction. However, the Assessing Officer not convinced with the submissions of the assessee denied depreciation and interest on car loan. On appeal the Ld.CIT(A) following the decision of the Apex court in the case of Mysore Minerals Ltd. v. CIT [239 ITR 775] and the Hon'ble Jurisdictional High Court in the case of CIT v. Dilip Singh Sardarsingh Bagga [201 ITR 995] allowed the claims of the assessee. 7. Ld. DR strongly supported the orders of the Assessing Officer and the counsel for the assessee strongly placed reliance on the orders of the Ld.CIT(A). 8. We have heard the rival submissions, peruse…

The DCIT, Circle-1(1)(1), Ahmedabad vs. Aagam Infrabuild Pvt. Ltd., Ahmedabad

In the result, Revenue’s appeal stands dismissed

ITA 1762/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad25 May 2018AY 2012-13

Bench: Shri N.K. Billaiya & Ms. Madhumita Royआयकर अपील सं./I.T.A. No.1762/Ahd/2016 ("नधा"रण वष" / Assessment Year : 2012-13)

For Appellant: Shri V.K. Singh, Sr.DRFor Respondent: -None-

…e considered the following judgements relied upon by the assessee-company before the CIT(A) in this respect: (i) MM Fisheries (P) Ltd. 277 ITR 204 (Del.). (ii)Tamilnadu Civil Supplies Corporation Ltd. vs. CIT 249 ITR 214(SC) (iii)Mysore Minerals Ltd. vs. CIT 239 ITR 775(SC). (iv) CIT vs. Podar Cement (P.) Ltd. (1997) 226 ITR 625. (v) SBC (P) Ltd. in ITA No.6 (Bom) 1974-75, ITAT, Bombay (vi)Mohamed BuxShokat Ali 256 ITR 355 (Raj.) (vii) CIT vs. Salkia Transport Associates (1983) 33 CTR (Cal) 198: 1983) 143 ITR 39 (Cal): TC 27R.266 (viii) Continental Construction Ltd. vs. CIT (1990) 85 CTR (Del) 116: DCIT vs. Aag…

Thiruvananthapuram Road Development Co. Ltd, Orrissa vs. DCIT 14(3)(1), Mumbai

Appeal of the assessee is disposed of in terms of the order in ITA

ITA 622/MUM/2015[2010-11]Status: DisposedITAT Mumbai23 May 2018AY 2010-11

Bench: Shri Joginder Singh & Shri N.K. Pradhanassessment Year: 2010-11 Thiruvananthapuram Road Dcit-14(3)(1), Development Company Ltd. बनाम/ (Earlier Dcit-10(1), The Il & Fs Financial Centre, Room No.455, 4Th Floor, Vs. Plot No.C-22, Aayakar Bhavan, G Block, Bandra Kurla M. K. Road, Complex, Bandra (East), Mumbai-400020 Mumbai-400051 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No. Aacct0547J Assessment Year: 2010-11 Dcit-14(3)(1), Thiruvananthapuram Road (Earlier Dcit-10(1), Development Company Ltd. बनाम/ Room No.455, 4Th Floor, The Il & Fs Financial Vs. Aayakar Bhavan, Centre, Plot No.C-22, M. K. Road, G Block, Bandra Kurla Mumbai-400020 Complex, Bandra (East), Mumbai-400051 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No. Aacct0547J

Section 143Section 253Section 32

…Bombay High Court, however, after discussing the provisions of National Highway Act, 1956 and National Highway Authorities of India Act, 1988 and various case laws including that are strongly relied upon by the Ld. A.R. e.g. Mysore Minerals Ltd. v. CIT [1999] 239 ITR 775/106 Taxman 166 (SC), CIT v. Podar Cement (P.) Ltd. [1997] 226 ITR 625/92 Taxman 541 (SC) and Noida Toll Bridge Co. Ltd. (supra), has held that the national highways vest in the Union of India and if the government for the purpose of development and maintenance of the whole or any part of the national highways enters into an agreement with private…

DCIT 14(3)(1), Mumbai vs. Thirvanthapuram Road Development Company Ltd, Mumbai

Appeal of the assessee is disposed of in terms of the order in ITA

ITA 4346/MUM/2015[2011-12]Status: DisposedITAT Mumbai23 May 2018AY 2011-12

Bench: Shri Joginder Singh & Shri N.K. Pradhanassessment Year: 2010-11 Thiruvananthapuram Road Dcit-14(3)(1), Development Company Ltd. बनाम/ (Earlier Dcit-10(1), The Il & Fs Financial Centre, Room No.455, 4Th Floor, Vs. Plot No.C-22, Aayakar Bhavan, G Block, Bandra Kurla M. K. Road, Complex, Bandra (East), Mumbai-400020 Mumbai-400051 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No. Aacct0547J Assessment Year: 2010-11 Dcit-14(3)(1), Thiruvananthapuram Road (Earlier Dcit-10(1), Development Company Ltd. बनाम/ Room No.455, 4Th Floor, The Il & Fs Financial Vs. Aayakar Bhavan, Centre, Plot No.C-22, M. K. Road, G Block, Bandra Kurla Mumbai-400020 Complex, Bandra (East), Mumbai-400051 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No. Aacct0547J

Section 143Section 253Section 32

…Bombay High Court, however, after discussing the provisions of National Highway Act, 1956 and National Highway Authorities of India Act, 1988 and various case laws including that are strongly relied upon by the Ld. A.R. e.g. Mysore Minerals Ltd. v. CIT [1999] 239 ITR 775/106 Taxman 166 (SC), CIT v. Podar Cement (P.) Ltd. [1997] 226 ITR 625/92 Taxman 541 (SC) and Noida Toll Bridge Co. Ltd. (supra), has held that the national highways vest in the Union of India and if the government for the purpose of development and maintenance of the whole or any part of the national highways enters into an agreement with private…

DCIT 4(3)(1), Mumbai vs. Tauiran Iron & Steel Co. P.Ltd, Mumbai

ITA 1284/MUM/2015[2009-10]Status: DisposedITAT Mumbai11 May 2018AY 2009-10
For Appellant: Shri K.B. DesaiFor Respondent: Shri Saurabh Deshpande-DR
Section 144CSection 254(1)

…presumed,that title deeds were not necessary as long as assessee had dominion over the assets,that De facto ownership was to be looked into and nont De jure ownership.He referred to the cases of Indian Railway Finance Corporation(362 ITR 548),Mysore Minerals (239 ITR 775)Gupta Global Exim(P.)Ltd.(305 ITR 132). 11.We have heard the rival submission.We find that in the case of Gupta Global Exim(P.)Ltd. Following the order of the Tribunal earlier year(supra),we decide the ground no.4 against the AO,as the order of the FAA does not suffer from any infirmity. ITA/1281/Mum/2015: 1284 & 1281/M/15 M/s. Taurian Iron & St…

DCIT 4(1)(2), Mumbai vs. Edwise Consultants P.Ltd, Mumbai

In the result, the above ground of appeal is allowed

ITA 619/MUM/2016[2011-12]Status: DisposedITAT Mumbai25 Apr 2018AY 2011-12

Bench: Shri Shamim Yahya (Am) & Shri Ram Lal Negi (Jm) Assessment Year: 2011-12 The Dcit – 4(1)(2), M/S Edwise Consultant Pvt. Ltd., 6Th Floor, Room No. 640, Jer Mahal, Opp. Metro Cinema, Aayakar Bhavan, Dhobi Talao, Mumbai - 400020 Vs. Mumbai - 400002 Pan: Aaacr2363N

For Appellant: Shri Rajiv Khandelwal (AR)For Respondent: Shri V. Justin (DR)
Section 143Section 40A(2)(b)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “E”, MUMBAI BEFORE SHRI SHAMIM YAHYA (AM) AND SHRI RAM LAL NEGI (JM) Assessment Year: 2011-12 The DCIT – 4(1)(2), M/s Edwise Consultant Pvt. Ltd., 6th Floor, Room No. 640, Jer Mahal, Opp. Metro Cinema, Aayakar Bhavan, Dhobi Talao, Mumbai - 400020 Vs. Mumbai - 400002 PAN: AAACR2363N (Appellant) (Respondent) Revenue by : Shri V. Justin (DR) Assessee by : Shri Rajiv Khandelwal (AR) Date of Hearing: 06/02/2018 Date of Pronouncement: 25/04/2018 O R D E R PER RAM LAL NEGI, JM This appeal has been preferred by the revenue against the order dated 20.11.2015 passed…

ACIT, New Delhi vs. M/S. Venus Industrial Corporation Pvt. Ltd., New Delhi

In the result ground No. 9

ITA 2504/DEL/2012[2004-05]Status: DisposedITAT Delhi21 Nov 2017AY 2004-05

Bench: Shri H.S.Sidhu & Shri Prashant Maharishiacit, Vs. Venus Industrial Corporation Pvt Circle-17(1), Room No. 221, Ltd, 2Nd Floor, Cr Building, New Delhi Flat No. 1, 2Nd Floor, Ram Pratap House, Kalkaji, New Delhi Pan:Aaacv4691B (Appellant) (Respondent)

For Appellant: Shri KC Singhal, CAFor Respondent: Shri Shravan Gotru, Sr. DR
Section 115JSection 143(1)Section 143(3)Section 37Section 37(1)

…ion.” 5.2 The AR relied on the following case laws: • CIT vs. India Tea and Timber Trading Company (221 ITR 857) • Capital Bus Service Pvt. Ltd. vs. CIT (123 ITR 405) (Delhi) • JCIT vs. United Phosphorous Ltd. (299 ITR 7) (SC) • Mysore Minerals Ltd. vs. CIT (239 ITR 775) (SC) 6.1 I have gone through the assessment order and the detailed written submissions filed by the AR. 6.2 The AO has disallowed Rs. 19,92,647 on account of depreciation on all the assets of the unit at Gurgaon on the premise that section 32 of the act requires that assets should be owned by the assessee and should also be used for the purpos…

ITO, WD-35(3), Kolkata vs. Sri Laxmipat Surana, Kolkata

In the result, the appeal of the revenue and cross-objection of the assessee both are dismissed

ITA 142/KOL/2016[2011-2012]Status: DisposedITAT Kolkata10 Nov 2017AY 2011-2012

Bench: Shri P.M. Jagtap, Am & Shri S.S. Viswanethra Ravi, Jm] I.T.A. No. 142/Kol/2016 Assessment Year: 2011-12 I.T.O. Ward 35(3), Kolkata.............................................................................Appellant Aayakar Bhawan Poorva, 8Th Floor, 110, Shantipally, Kolkata – 700107 Sri Laxmipat Surana………………………………………………..........................Respondent 12, Bonfield Lane, 1St Floor, Kolkata – 700001 [Pan : Akqps7037P] C.O. No. 19/Kol/2016 (Arising Out Of Ita No. 142/Kol/2016) Assessment Year: 2011-12 Sri Laxmipat Surana………………………………………………......................Cross-Objector 12, Bonfield Lane, 1St Floor, Kolkata - 700001 [Pan : Akqps7037P] I.T.O. Ward 35(3), Kolkata.............................................................................Respondent Aayakar Bhawan Poorva, 8Th Floor, 110, Shantipally, Kolkata – 700107 Appearances By: Shri D.Z. Chowngthu, Addl. Cit Appearing On Behalf Of The Revenue Shri Anil Kochar, Advocate Appearing On Behalf Of The Assessee Date Of Concluding The Hearing : November 08, 2017 Date Of Pronouncing The Order : November 10 , 2017 Order Per P.M. Jagtap, Am This Appeal Is Preferred By The Revenue Against The Order Of Ld. Cit (A) – 10, Kolkata Dated 09.11.2015 & The Same Is Being Disposed Of Along With The Cross-Objection Filed By The Assessee Being C.O. No. 19/Kol/2016. 2 I.T.A. No. 142 & C.O. No. 19/Kol/2016 Sri Laxmipat Surana

Section 143(3)Section 32

…more recently the order of the Hon’ble Delhi High Court in the case of CIT vs Bharat Hotels Ltd. on 24th July, 2014, wherein a similar issue has been adjudicated upon in favour of the appellant. The judgment of the Apex Court in Mysore Minerals vs CIT (1999) 239 ITR 775 (SC) also has been relied upon wherein the Court has observed that the intention of legislature in the enacting section 32 would be best fulfilled by allowing the deduction in respect of depreciation to the person in whom for the time-being vests the dominion of the building and who is entitled to use it 5 I.T.A. No. 142 & C.O. No. 19/Kol/2016…

DCIT vs. Sharp Software Def. India Pvt. Ltd

In the result, appeal of assessee and Revenue are partly allowed for statistical purposes and CO of the assessee is dismissed

ITA 1826/BANG/2013[2004-05]Status: DisposedITAT Bangalore27 Sept 2017AY 2004-05

Bench: Shri Sunil Kumar Yadav & Shri A. K. Garodiait(Tp)A Nos. & Appellant Respondent Assessment Years No.1819/Bang/2013 M/S. Sharp Software Dy. Commissioner Of 2004-05 Development India Pvt. Ltd., Income-Tax, Circle-12(3), 14/3, 4Th Floor, Unit-5, Level-3, Innovator International Tech Park, Rastrothana Bhavan (Opp. Whitefield Road, Rbi), Nrupathunga Road, Bengaluru-560066. Bengaluru-560001. Pan: Aaecs0269E No.1826/Bang/2013 Dy. Commissioner Of M/S. Sharp Software 2004-05 Income-Tax, Development India Pvt. Ltd., Circle-12(3), Pan: Aaecs0269E Bengaluru-560001. C.O. No. & Appellant Respondent Assessment Year 9/Bang/2016 M/S. Sharp Software Dy. Commissioner Of 2004-05 Development India Pvt. Income-Tax, (In It(Tp)A Ltd., Circle-12(3), No.1819/Bang/2013) Pan: Aaecs0269E Bengaluru-560001. Revenue By : Smt. H. L. Sowmya Achar, Addl. Cit Assessee By : Shri. Chavali Narayan, Ca

For Appellant: Shri. Chavali Narayan, CAFor Respondent: Smt. H. L. Sowmya Achar, Addl. CIT

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH : BANGALORE BEFORE SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND SHRI A. K. GARODIA, ACCOUNTANT MEMBER IT(TP)A Nos. & Appellant Respondent Assessment Years No.1819/Bang/2013 M/s. Sharp Software Dy. Commissioner of 2004-05 Development India Pvt. Ltd., Income-Tax, Circle-12(3), 14/3, 4th Floor, Unit-5, Level-3, Innovator International Tech Park, Rastrothana Bhavan (Opp. Whitefield Road, RBI), Nrupathunga Road, Bengaluru-560066. Bengaluru-560001. PAN: AAECS0269E No.1826/Bang/2013 Dy. Commissioner of M/s. Sharp Software 2004-05 Income-Tax, Development India Pvt. Ltd., Circ…

Sharp Software Development India Pvt. Ltd vs. DCIT

In the result, appeal of assessee and Revenue are partly allowed for statistical purposes and CO of the assessee is dismissed

ITA 1819/BANG/2013[2004-05]Status: DisposedITAT Bangalore27 Sept 2017AY 2004-05

Bench: Shri Sunil Kumar Yadav & Shri A. K. Garodiait(Tp)A Nos. & Appellant Respondent Assessment Years No.1819/Bang/2013 M/S. Sharp Software Dy. Commissioner Of 2004-05 Development India Pvt. Ltd., Income-Tax, Circle-12(3), 14/3, 4Th Floor, Unit-5, Level-3, Innovator International Tech Park, Rastrothana Bhavan (Opp. Whitefield Road, Rbi), Nrupathunga Road, Bengaluru-560066. Bengaluru-560001. Pan: Aaecs0269E No.1826/Bang/2013 Dy. Commissioner Of M/S. Sharp Software 2004-05 Income-Tax, Development India Pvt. Ltd., Circle-12(3), Pan: Aaecs0269E Bengaluru-560001. C.O. No. & Appellant Respondent Assessment Year 9/Bang/2016 M/S. Sharp Software Dy. Commissioner Of 2004-05 Development India Pvt. Income-Tax, (In It(Tp)A Ltd., Circle-12(3), No.1819/Bang/2013) Pan: Aaecs0269E Bengaluru-560001. Revenue By : Smt. H. L. Sowmya Achar, Addl. Cit Assessee By : Shri. Chavali Narayan, Ca

For Appellant: Shri. Chavali Narayan, CAFor Respondent: Smt. H. L. Sowmya Achar, Addl. CIT

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH : BANGALORE BEFORE SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND SHRI A. K. GARODIA, ACCOUNTANT MEMBER IT(TP)A Nos. & Appellant Respondent Assessment Years No.1819/Bang/2013 M/s. Sharp Software Dy. Commissioner of 2004-05 Development India Pvt. Ltd., Income-Tax, Circle-12(3), 14/3, 4th Floor, Unit-5, Level-3, Innovator International Tech Park, Rastrothana Bhavan (Opp. Whitefield Road, RBI), Nrupathunga Road, Bengaluru-560066. Bengaluru-560001. PAN: AAECS0269E No.1826/Bang/2013 Dy. Commissioner of M/s. Sharp Software 2004-05 Income-Tax, Development India Pvt. Ltd., Circ…

Income Tax Officer 10(3) -1, Mumbai vs. Alfreight International Pvt. Ltd., Navi Mumbai

The appeal is allowed

ITA 5578/MUM/2013[2009-10]Status: DisposedITAT Mumbai25 Sept 2017AY 2009-10

Bench: Shri G.S. Pannu, Am & Shri Ravish Sood, Jm आयकर अपील सं./ I.T.A. No. 5578/Mum/2013 (निर्धारण वर्ा / Assessment Year: 2009-10) Income Tax Officer-10(3)-1, M/S Alfreight International Room No. 456, 4Th Floor, Pvt. Ltd. 504, Mayuresh बिधम/ Aayakar Bhavan, M.K. Road Cosmos, Plot No. 37, Vs. Mumbai- 400 020 Sector-11, Cbd Belapur Navi Mumbai-400 61 स्थायीलेखासं./जीआइआरसं./ Pan/Gir No. Aaaca5383K (अपीलाथी/Revenue) (प्रत्यथी / Assessee) :

For Appellant: Shri M. Subramanian, A.RFor Respondent: Shri V. Justin, D.R
Section 143(2)Section 143(3)Section 50

…P a g e | 1 ITA No. 5578/Mum/2013 AY: 2009-10 ITO Vs. M/s Alfreight International IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, MUMBAI BEFORE SHRI G.S. PANNU, AM AND SHRI RAVISH SOOD, JM आयकर अपील सं./ I.T.A. No. 5578/Mum/2013 (निर्धारण वर्ा / Assessment Year: 2009-10) Income Tax Officer-10(3)-1, M/s Alfreight International Room No. 456, 4th Floor, Pvt. Ltd. 504, Mayuresh बिधम/ Aayakar Bhavan, M.K. Road Cosmos, Plot No. 37, Vs. Mumbai- 400 020 Sector-11, CBD Belapur Navi Mumbai-400 61 स्थायीलेखासं./जीआइआरसं./ PAN/GIR No. AAACA5383K (अपीलाथी/Revenue) (प्रत्यथी / Assessee) : अपीलाथी की ओर से/Revenue by : Shri…

Devichand Kanthilal Shah, Chennai vs. ITO, Chennai

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

ITA 3353/CHNY/2016[2013-14]Status: DisposedITAT Chennai31 May 2017AY 2013-14

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.3353/Mds/2016 "नधा"रण वष" / Assessment Year : 2013-14 Shri Devichand Kanthilal Shah, The Income Tax Officer, No.7, Nungambakkam High Road, V. Non Corporate Ward - 3(4), Nungambakkam, Chennai - 600 034. Chennai - 600 034. Pan : Aagps 1965 A (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri D. Anand, AdvocateFor Respondent: Shri Supriyo Pal, JCIT
Section 2(47)Section 53ASection 54

…ccording to the Ld. counsel, even though the registration of sale deed took place only on 06.06.2012, the physical possession was handed over to the assessee on 09.04.2012 itself. Therefore, in view of judgment of Apex Court in Mysore Minerals Ltd. v. CIT (239 ITR 775), the assessee has to be construed as owner of property. In other words, according to the Ld. counsel, the assessee continued to be in the possession of property as a beneficial owner, therefore, the assessee is entitled for exemption under Section 54 of the Act. 5. On the contrary, Shri Supriyo Pal, the Ld. Departmental Representative, submit…

West Gujarat Expressway Ltd, Mumbai vs. DCIT 14(3)(2), Mumbai

In the result, the appeal of Revenue is dismissed and that of assessee is allowed

ITA 664/MUM/2015[2010-11]Status: DisposedITAT Mumbai26 May 2017AY 2010-11

Bench: Sri Mahavir Singh, Jm & Sri N.K. Pradhan, Am Dy. Commissioner Of Income Tax, West Gujarat Expressway Circle 14(3)(1) Ltd. 453 Aayakar Bhavan, M.K. Marg The Il & Fs Financial Centre, Mumbai-400020 Vs. Plot No. C-22, G Block Bkc Complex, Bandra (E) Mumbai-400051 Pin No. Aaacw5862D Appellant .. Respondent West Gujarat Expressway Ltd. Dy. Commissioner Of Income Tax, The Il & Fs Financial Centre, Circle 14(3)(1) Plot No. C-22, G Block Bkc 453 Aayakar Bhavan, M.K. Vs. Complex, Bandra (E) Marg Mumbai-400051 Mumbai-400020 Pin No. Aaacw5862D Appellant .. Respondent

Section 143(3)

…rt, however, after discussing the provisions of National Highway Act, 1956 and National Highway Authorities of India Act, 1988 and various case laws including that are strongly relied upon by the Ld. A.R. e.g. “Mysore Minerals Ltd. vs. CIT” reported in (1999) 239 ITR 775 SC, “CIT vs Podar Cement Pvt. Ltd. & others” reported in (1997) 226 ITR 625 SC and “CIT vs. Noida Toll Bridge Company Ltd.” Page 6 of 32 ITA No.634 & 664/Mum/2015 West Gujarat Expressway Ltd. (A.Y:2010-11) (Allahabad HC) (supra), has held that the national highways vest in the Union of India and if the government for the purpose of development…

DCIT 14(3)(1), Mumbai vs. West Gujarat Expressway Ltd, Mumbai

In the result, the appeal of Revenue is dismissed and that of assessee is allowed

ITA 634/MUM/2015[2010-11]Status: DisposedITAT Mumbai26 May 2017AY 2010-11

Bench: Sri Mahavir Singh, Jm & Sri N.K. Pradhan, Am Dy. Commissioner Of Income Tax, West Gujarat Expressway Circle 14(3)(1) Ltd. 453 Aayakar Bhavan, M.K. Marg The Il & Fs Financial Centre, Mumbai-400020 Vs. Plot No. C-22, G Block Bkc Complex, Bandra (E) Mumbai-400051 Pin No. Aaacw5862D Appellant .. Respondent West Gujarat Expressway Ltd. Dy. Commissioner Of Income Tax, The Il & Fs Financial Centre, Circle 14(3)(1) Plot No. C-22, G Block Bkc 453 Aayakar Bhavan, M.K. Vs. Complex, Bandra (E) Marg Mumbai-400051 Mumbai-400020 Pin No. Aaacw5862D Appellant .. Respondent

Section 143(3)

…rt, however, after discussing the provisions of National Highway Act, 1956 and National Highway Authorities of India Act, 1988 and various case laws including that are strongly relied upon by the Ld. A.R. e.g. “Mysore Minerals Ltd. vs. CIT” reported in (1999) 239 ITR 775 SC, “CIT vs Podar Cement Pvt. Ltd. & others” reported in (1997) 226 ITR 625 SC and “CIT vs. Noida Toll Bridge Company Ltd.” Page 6 of 32 ITA No.634 & 664/Mum/2015 West Gujarat Expressway Ltd. (A.Y:2010-11) (Allahabad HC) (supra), has held that the national highways vest in the Union of India and if the government for the purpose of development…

Gujarat Narmada Valley Fertilizers & Chemicals Ltd., Bharuch vs. The Add.CIT., Bharuch Range, Bharuch

In the result, appeal of the assessee in ITA No

ITA 2930/AHD/2013[2008-09]Status: DisposedITAT Ahmedabad19 May 2017AY 2008-09

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasad

For Appellant: Shri James Kurian, Sr. D.RFor Respondent: Shri Sanjay R. Shah, A.R
Section 143(3)

…25 ITR 703(SC) ii) Tuticorin Alkalies Chemicals & Fertilizers Ltd. vs. CIT - 227 ITR 172(SC) iii) Sundaram Finance Ltd. vs. State of Kerala - 1966 AIR SC 1178 iv) Damodar Valley Corporation vs. State of Bihar - 12 STC 102(SC) v) Mysore Minerals Ltd. vs. CIT - 239 ITR 775(SC) vi) Gaurishankar Finance Ltd. vs. CIT - 166 CTR 137(Kar) vii) Center for Monitoring Indian Economy vs. DCIT Income-tax Act, 1961 No. 3820/Bom/1990 dtd. 29.04.1996 Ld. A.O. held that this is finance lease with Western Railway by purchasing the railway wagons. Therefore, he disallowed the depreciation of Rs.7,93,490/-. The Id. A.O. considered…

The Dcitbharuch Circle, Bharuch vs. Gujarat Narmada Valley Fertilizers Co. Ltd., Bharuch

In the result, appeal of the assessee in ITA No

ITA 2921/AHD/2013[2008-09]Status: DisposedITAT Ahmedabad19 May 2017AY 2008-09

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasad

For Appellant: Shri James Kurian, Sr. D.RFor Respondent: Shri Sanjay R. Shah, A.R
Section 143(3)

…25 ITR 703(SC) ii) Tuticorin Alkalies Chemicals & Fertilizers Ltd. vs. CIT - 227 ITR 172(SC) iii) Sundaram Finance Ltd. vs. State of Kerala - 1966 AIR SC 1178 iv) Damodar Valley Corporation vs. State of Bihar - 12 STC 102(SC) v) Mysore Minerals Ltd. vs. CIT - 239 ITR 775(SC) vi) Gaurishankar Finance Ltd. vs. CIT - 166 CTR 137(Kar) vii) Center for Monitoring Indian Economy vs. DCIT Income-tax Act, 1961 No. 3820/Bom/1990 dtd. 29.04.1996 Ld. A.O. held that this is finance lease with Western Railway by purchasing the railway wagons. Therefore, he disallowed the depreciation of Rs.7,93,490/-. The Id. A.O. considered…

DCIT 2(2), Mumbai vs. Kaytee Corporation P.Ld, Mumbai

In the result, this appeal filed by the revenue is Partly

ITA 2277/MUM/2013[2009-10]Status: DisposedITAT Mumbai12 Apr 2017AY 2009-10

Bench: Shri Shamim Yahya, Am & Shri Ravish Sood, Jm

For Appellant: Ms. Aarti VissanjiFor Respondent: Shri Rajesh Kumar Yadav
Section 14A

…आयकर अपीलीय अिधकरण, मुंबई "ायपीठ ‘ए’ मुंबई IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI "ी शिमम या"ा, लेखा सद", एवं "ी रिवश सूद,"ाियक सद",के सम" BEFORE SHRI SHAMIM YAHYA, AM AND SHRI RAVISH SOOD, JM आयकर अपील सं/ I.T.A. No.2277/Mum/2013 (िनधा"रण वष" / Assessment Year:2009-10) बनाम/ Dy. Commissioner of M/s. Kaytee Corporation Income Tax Circle 2(2) Pvt. Ltd. Vs. 7, Malhotra House, 2nd Floor Aayakar Bhavan, Room No.545, 5th Floor, Walchand Hirachand Marg, M.K.Road, Opp. GPO, Fort, Mumbai - 400020 Mumbai - 400001 "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAACK1732E (अपीलाथ" /Appellant) (""थ" / Respondent)…