Nirma Industries (P.) Ltd. v. DCIT

148 ITD 126Income Tax Appellate Tribunal2014#12176 most cited
8

judgments rely on this decision, according to BharatTax’s citation analysis of 357,294 Indian tax judgments — from 2015 to 2017.

Judgments citing Nirma Industries (P.) Ltd. v. DCIT

Gita Wind Energy, Chennai vs. ITO, Chennai

In the result, both the appeals filed by the assessee are allowed

ITA 751/CHNY/2017[2012-13]Status: DisposedITAT Chennai30 Nov 2017AY 2012-13

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita Nos.750 & 751/Mds/2017 "नधा"रण वष" / Assessment Years : 2011-12 & 2012-13 M/S Gita Wind Energy, The Income Tax Officer, 4/7, Thiru Vi Ka Road, V. Business Ward 1(2) / Non- Mylapore, Chennai - 600 004. Corporate Ward 1(2), Chennai - 600 034. Pan : Aajfg 7091 A (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri V. Ravichandran, FCAFor Respondent: Ms. S. Vijayaprabha, JCIT
Section 43(1)

…e, the written down value of the windmills in the books of the vendor, namely, M/s Rasi Seeds Pvt. Ltd. was ₹83,37,300/- as per Companies Act. 4. Placing reliance on the decision of Ahmedabad Bench of this Tribunal in Nirma Industries (P.) Ltd. v. DCIT (2014) 148 ITD 126, the Ld. representative for the assessee submitted that when the assessee filed a valuation report, it is incumbent upon the assessing authority to dislodge the same by bringing adequate material available on record in the form of Departmental Valuation Report. In the absence of Departmental Valuation Officer’s report, the Assessing Officer canno…

Gita Wind Energy, Chennai vs. ITO, Chennai

In the result, both the appeals filed by the assessee are allowed

ITA 750/CHNY/2017[2011-12]Status: DisposedITAT Chennai30 Nov 2017AY 2011-12

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita Nos.750 & 751/Mds/2017 "नधा"रण वष" / Assessment Years : 2011-12 & 2012-13 M/S Gita Wind Energy, The Income Tax Officer, 4/7, Thiru Vi Ka Road, V. Business Ward 1(2) / Non- Mylapore, Chennai - 600 004. Corporate Ward 1(2), Chennai - 600 034. Pan : Aajfg 7091 A (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri V. Ravichandran, FCAFor Respondent: Ms. S. Vijayaprabha, JCIT
Section 43(1)

…e, the written down value of the windmills in the books of the vendor, namely, M/s Rasi Seeds Pvt. Ltd. was ₹83,37,300/- as per Companies Act. 4. Placing reliance on the decision of Ahmedabad Bench of this Tribunal in Nirma Industries (P.) Ltd. v. DCIT (2014) 148 ITD 126, the Ld. representative for the assessee submitted that when the assessee filed a valuation report, it is incumbent upon the assessing authority to dislodge the same by bringing adequate material available on record in the form of Departmental Valuation Report. In the absence of Departmental Valuation Officer’s report, the Assessing Officer canno…

M/S. Continental Device India Ltd., New Delhi vs. ACIT, New Delhi

In the result, the appeal of the assessee is allowed

ITA 6331/DEL/2014[2010-11]Status: DisposedITAT Delhi23 Nov 2017AY 2010-11

Bench: : Shri Bhavnesh Saini & Shri L.P. Sahu

Section 143(1)Section 43(1)

…on of the assets having been used by another person before the date of acquisition stands fulfilled the provision cannot be applied.” 17. Further reference at this juncture is also made to the decision of the Tribunal in the case of Nirma Industries (P.) Ltd. 148 ITD 126 (Ahd) wherein it has been held as under: “3.4 We find that in the present case, the entire case of the A.O. is based on Explanation (3) to Section 43(1) as reproduced above. As per this explanation, we are of the considered opinion that the A.O. can determine the original cost of the assets for allowing depreciation to the assessee only if he is…

M/S. Continental Device India Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeal of the assessee is allowed

ITA 5623/DEL/2012[2008-09]Status: DisposedITAT Delhi31 Dec 2015AY 2008-09

Bench: Sh. N. K. Saini, Am & Sh. Kuldip Singh, Jm It(Tp)A No. 5623/Del/2012 : Asstt. Year : 2008-09 M/S Continental Device India Ltd., Vs Dy. Commissioner Of Income Tax C-120, Naraina Industrial Area, Circle-3(1), New Delhi-110028 New Delhi (Appellant) (Respondent) Pan No. Aaacc1835E Assessee By : Sh. R. K. Kapoor, Ca Revenue By : Sh. Ravi Jain, Cit Dr Date Of Hearing : 28.10.2015 Date Of Pronouncement : 31.12.2015 Order Per N. K. Saini, Am:

For Appellant: Sh. R. K. Kapoor, CAFor Respondent: Sh. Ravi Jain, CIT DR
Section 143(1)Section 143(3)Section 234DSection 271(1)(c)Section 35(1)Section 43(1)

…date of acquisition stands fulfilled the provision cannot be applied.” IT(TP)A No. 5623/Del/2012 15 Continental Device India Ltd. 17. Further reference at this juncture is also made to the decision of the Tribunal in the case of Nirma Industries (P.) Ltd. 148 ITD 126 (Ahd) wherein it has been held as under: “3.4 We find that in the present case, the entire case of the A.O. is based on Explanation (3) to Section 43(1) as reproduced above. As per this explanation, we are of the considered opinion that the A.O. can determine the original cost of the assets for allowing depreciation to the assessee only if he is…

M/S. Continental Device India Ltd., New Delhi vs. Addl. CIT, New Delhi

In the result, all the appeals are partly allowed

ITA 316/DEL/2013[2009-10]Status: DisposedITAT Delhi16 Oct 2015AY 2009-10

Bench: Shri N.K. Saini & Shri A.T. Varkey

For Appellant: Shri Pardeep Dinodia & R.K. Kapoor, CAsFor Respondent: Smt. Parwinder Kaur, Senior DR
Section 143(1)Section 143(2)Section 35(1)Section 43(1)

…on of the assets having been used by another person before the date of acquisition stands fulfilled the provision cannot be applied.” 17 Further reference at this juncture is also made to the decision of the Tribunal in the case of Nirma Industries (P.) Ltd. 148 ITD 126 (Ahd) wherein it has been held as under: “3.4 We find that in the present case, the entire case of the A.O. is based on Explanation (3) to Section 43(1) as reproduced above. As per this explanation, we are of the considered opinion that the A.O. can determine the original cost of the assets for allowing depreciation to the assessee only if he is…

M/S Continental Device India Ltd., New Delhi vs. DCIT, New Delhi

In the result, all the appeals are partly allowed

ITA 1319/DEL/2011[2006-07]Status: DisposedITAT Delhi16 Oct 2015AY 2006-07

Bench: Shri N.K. Saini & Shri A.T. Varkey

For Appellant: Shri Pardeep Dinodia & R.K. Kapoor, CAsFor Respondent: Smt. Parwinder Kaur, Senior DR
Section 143(1)Section 143(2)Section 35(1)Section 43(1)

…on of the assets having been used by another person before the date of acquisition stands fulfilled the provision cannot be applied.” 17 Further reference at this juncture is also made to the decision of the Tribunal in the case of Nirma Industries (P.) Ltd. 148 ITD 126 (Ahd) wherein it has been held as under: “3.4 We find that in the present case, the entire case of the A.O. is based on Explanation (3) to Section 43(1) as reproduced above. As per this explanation, we are of the considered opinion that the A.O. can determine the original cost of the assets for allowing depreciation to the assessee only if he is…

M/S Continental Device India Ltd., New Delhi vs. ACIT, New Delhi

In the result, all the appeals are partly allowed

ITA 5656/DEL/2010[2007-08]Status: DisposedITAT Delhi16 Oct 2015AY 2007-08

Bench: Shri N.K. Saini & Shri A.T. Varkey

For Appellant: Shri Pardeep Dinodia & R.K. Kapoor, CAsFor Respondent: Smt. Parwinder Kaur, Senior DR
Section 143(1)Section 143(2)Section 35(1)Section 43(1)

…on of the assets having been used by another person before the date of acquisition stands fulfilled the provision cannot be applied.” 17 Further reference at this juncture is also made to the decision of the Tribunal in the case of Nirma Industries (P.) Ltd. 148 ITD 126 (Ahd) wherein it has been held as under: “3.4 We find that in the present case, the entire case of the A.O. is based on Explanation (3) to Section 43(1) as reproduced above. As per this explanation, we are of the considered opinion that the A.O. can determine the original cost of the assets for allowing depreciation to the assessee only if he is…

M/S Continental Device India Ltd., New Delhi vs. Addl. CIT, New Delhi

In the result, all the appeals are partly allowed

ITA 134/DEL/2009[2005-06]Status: DisposedITAT Delhi16 Oct 2015AY 2005-06

Bench: Shri N.K. Saini & Shri A.T. Varkey

For Appellant: Shri Pardeep Dinodia & R.K. Kapoor, CAsFor Respondent: Smt. Parwinder Kaur, Senior DR
Section 143(1)Section 143(2)Section 35(1)Section 43(1)

…on of the assets having been used by another person before the date of acquisition stands fulfilled the provision cannot be applied.” 17 Further reference at this juncture is also made to the decision of the Tribunal in the case of Nirma Industries (P.) Ltd. 148 ITD 126 (Ahd) wherein it has been held as under: “3.4 We find that in the present case, the entire case of the A.O. is based on Explanation (3) to Section 43(1) as reproduced above. As per this explanation, we are of the considered opinion that the A.O. can determine the original cost of the assets for allowing depreciation to the assessee only if he is…

Nirma Industries (P.) Ltd. v. DCIT (148 ITD 126) — Cited in 8 Judgments | BharatTax