PCIT v. IDMC Ltd.

393 ITR 441High Court2017#2588 most cited

What is PCIT v. IDMC Ltd. authority for?

Additional depreciation under Section 32(1)(iia) is available for machinery purchased in a prior year but installed and put to use in the current previous year. Eligibility for the claim depends on the date of installation and use, not just the date of purchase.

45

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2018 to 2023.

Also referred to as

PCIT v. IDMC Ltd. · additional depreciation · Section 32(1)(iia) · machinery · purchased before installation · date of installation · eligibility · 393 ITR 441 · 78 Taxmann.com 285 · Gujarat High Court

Also reported as

78 Taxmann.com 285

Sections most often in play

Section 14ASection 41(1)

Issues it is cited on

section 35absection 80ia(1)section 92f(v)section 80hhesection 92f(ii)section 35asection 80ia(5)section 32(1)(iia)section 10bacasus omissussection 32asubstance over form

Judgments citing PCIT v. IDMC Ltd.

National Aluminium Company Limited, Bhubaneswar vs. ACIT, Corporate Circle-1(2), Bhubaneswar

In the result, all the appeals of the assessee and Revenue along

ITA 338/CTK/2017[2009-10]Status: DisposedITAT Cuttack27 Oct 2020AY 2009-10

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अऩीऱ सं./Ita No.338/Ctk/2017 आयकर अऩीऱ सं./Ita No.39/Ctk/2019 आयकर अऩीऱ सं./Ita No.01/Ctk/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Acit, Corporate Circle-1(2), Bhubaneswar Nalco Bhawan, P/1, Nayapalli, Bhubaneswar Pan No. : Aaacn 7449 M & आयकर अऩीऱ सं./Ita No.331/Ctk/2017 आयकर अऩीऱ सं./Ita No.69/Ctk/2019 आयकर अऩीऱ सं./Ita No.65/Ctk/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Dcit/Acit, Nalco Bhawan, P/1, Nayapalli, Corporate Circle-1(2), Bhubaneswar Bhubaneswar Pan No. : Aaacn 7449 M & Cross Objection No.11/Ctk/2019 Cross Objection No.02/Ctk/2020 (Arising Out Of Ita Nos.69/Ctk/2019 & 65/Ctk/2020) (नििाारण वषा / Assessment Years :2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Dcit/Acit, Nalco Bhavan, P/1, Nayapalli, Corporate Circle-1(2), Bhubaneswar Bhubaneswar Pan No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By Shri A.K.Sabat & B.K.Mahapatra, Cas : राजस्व की ओर से /Revenue By Shri M.K.Gautam, Cit Dr : सुनवाई की तारीख / Date Of Hearing : 06/10/2020 घोषणा की तारीख/Date Of Pronouncement : 28/10/2020 आदेश / O R D E R Per Bench : These Are The Cross Appeals Filed By The Assessee & Revenue & Cross Objections By The Assessee, Against The Separate Orders Of The Cit(A)-1, Bhubaneswar, Dated 30.12.2017, 27.12.2018 & 24.10.2019

…आयकर अपीऱीय अधिकरण, कटक न्यायपीठ,कटक IN THE INCOME TAX APPELLATE TRIBUNAL CUTTACK BENCH CUTTACK BEFORE SHRI C.M. GARG, JM & SHRI L.P. SAHU, AM आयकर अऩीऱ सं./ITA No.338/CTK/2017 आयकर अऩीऱ सं./ITA No.39/CTK/2019 आयकर अऩीऱ सं./ITA No.01/CTK/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. ACIT, Corporate Circle-1(2), Bhubaneswar NALCO Bhawan, P/1, Nayapalli, Bhubaneswar PAN No. : AAACN 7449 M AND आयकर अऩीऱ सं./ITA No.331/CTK/2017 आयकर अऩीऱ सं./ITA No.69/CTK/2019 आयकर अऩीऱ सं./ITA No.65/CTK/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 20…

ACIT, Corporate Circle-1(2), Bhubaneswar vs. National Aluminium Company Ltd., Bhubaneswar

In the result, all the appeals of the assessee and Revenue along

ITA 331/CTK/2017[2009-10]Status: DisposedITAT Cuttack27 Oct 2020AY 2009-10

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अऩीऱ सं./Ita No.338/Ctk/2017 आयकर अऩीऱ सं./Ita No.39/Ctk/2019 आयकर अऩीऱ सं./Ita No.01/Ctk/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Acit, Corporate Circle-1(2), Bhubaneswar Nalco Bhawan, P/1, Nayapalli, Bhubaneswar Pan No. : Aaacn 7449 M & आयकर अऩीऱ सं./Ita No.331/Ctk/2017 आयकर अऩीऱ सं./Ita No.69/Ctk/2019 आयकर अऩीऱ सं./Ita No.65/Ctk/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Dcit/Acit, Nalco Bhawan, P/1, Nayapalli, Corporate Circle-1(2), Bhubaneswar Bhubaneswar Pan No. : Aaacn 7449 M & Cross Objection No.11/Ctk/2019 Cross Objection No.02/Ctk/2020 (Arising Out Of Ita Nos.69/Ctk/2019 & 65/Ctk/2020) (नििाारण वषा / Assessment Years :2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Dcit/Acit, Nalco Bhavan, P/1, Nayapalli, Corporate Circle-1(2), Bhubaneswar Bhubaneswar Pan No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By Shri A.K.Sabat & B.K.Mahapatra, Cas : राजस्व की ओर से /Revenue By Shri M.K.Gautam, Cit Dr : सुनवाई की तारीख / Date Of Hearing : 06/10/2020 घोषणा की तारीख/Date Of Pronouncement : 28/10/2020 आदेश / O R D E R Per Bench : These Are The Cross Appeals Filed By The Assessee & Revenue & Cross Objections By The Assessee, Against The Separate Orders Of The Cit(A)-1, Bhubaneswar, Dated 30.12.2017, 27.12.2018 & 24.10.2019

…आयकर अपीऱीय अधिकरण, कटक न्यायपीठ,कटक IN THE INCOME TAX APPELLATE TRIBUNAL CUTTACK BENCH CUTTACK BEFORE SHRI C.M. GARG, JM & SHRI L.P. SAHU, AM आयकर अऩीऱ सं./ITA No.338/CTK/2017 आयकर अऩीऱ सं./ITA No.39/CTK/2019 आयकर अऩीऱ सं./ITA No.01/CTK/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. ACIT, Corporate Circle-1(2), Bhubaneswar NALCO Bhawan, P/1, Nayapalli, Bhubaneswar PAN No. : AAACN 7449 M AND आयकर अऩीऱ सं./ITA No.331/CTK/2017 आयकर अऩीऱ सं./ITA No.69/CTK/2019 आयकर अऩीऱ सं./ITA No.65/CTK/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 20…

Sadhvi Securities P.Ltd, New Delhi vs. ACIT, Central Circler-5, New Delhi

In the result, the appeal filed by the assessee is dismissed

ITA 1047/DEL/2019[2014-15]Status: DisposedITAT Delhi16 Jul 2019AY 2014-15

Bench: Shri R.K. Panda & Ms Suchitra Kambleassessment Year: 2014-15 Sadhvi Securities P. Ltd., Vs Acit, 13/34, Wea, Arya Samaj Road, Central Circle-5, Karol Bagh, New Delhi. New Delhi. Pan: Aahcs7130D (Appellant) (Respondent) Assessee By : Shri V.P. Gupta & Shri Anunav Kumar, Advocates Revenue By : Shri S.S. Rana, Cit, Dr Date Of Hearing : 02.05.2019 Date Of Pronouncement : 16.07.2019 Order Per R.K. Panda, Am: This Appeal Filed By The Assessee Is Directed Against The Order Dated 15Th January, 2019 Of The Cit(A)-24, Delhi, Relating To Assessment Year 2014-15. 2. Facts Of The Case, In Brief, Are That The Assessee Is A Company & Is Engaged In The Business Of Share Trading. It Filed Its Return Of Income On 27.11.2014 Declaring Total Income Of Rs.910/-. During The Course Of Assessment Proceedings, The Assessing Officer Noted That The Assessee Has Introduced Share Capital By Issuing 1800000 Equity Shares Of Rs.10 Each At A Premium Of Rs.90 Per Share Aggregating To Rs.18 Crore In The Balance Sheet As On 31.03.2014. Since The Assessee Has Charged Very High Premium On The Shares So Allotted, The Assessing Officer Asked The Assessee To Furnish Complete

For Appellant: Shri V.P. Gupta &For Respondent: Shri S.S. Rana, CIT, DR
Section 56(2)(viib)

…i) CIT v. JH Gotla (1985) 156 ITR 323 (SC). viii) Paharpur Cooling Towers Ltd. v. CIT (2011) 61 DTR 309. ix) CIT V. Modipon Ltd. (2011) 334 ITR 106 (HC) x) CIT v. Modipon Ltd., Paharpur Cooling Towers Ltd. (2018)400 ITR 1 (SC) xi) Pr. CIT v. IDMC Ltd., (2017) 393 ITR 441 (Guj.) xii) Pr. CIT v. IDMC Ltd., (2017) 10 TMI 732 (SC). xiii) CIT v. Suresh Nanda (2015) 375 ITR 172 (Del). xiv) CIT v. HCL Technologies Ltd. (2018) 404 ITR 719 (SC). xv) Southern Motors v. State of Karnataka and Ors, AIR 2017 SC 476. 9. The ld. counsel for the assessee, referring to the Stay Application No.129/Del/2019, order dated 6th March,…

The Pr. Commissioner of Income Tax (4) vs. M/S Chamundi Winery and Distillery

ITA/172/2017HC Karnataka25 Sept 2018

Bench: S.SUJATHA,VINEET KOTHARI

Section 260

…8] 404 ITR 409(SC), a Two Judges’ Bench of the Hon’ble Supreme Court dealt with Sl.No OTHER CASE LAWS Page No 11 Manglore Ganesh Beedi Works Vs. CIT 378 ITR 640 (SC) 64-70 12 D.S. Bist & Sons Vs. CIT 149 ITR 276 (Del) 71-74 37 PCIT Vs. IDMC Ltd. 393 ITR 441 (Guj) 227-233 47 UOI Vs.Azadi Bachao Andolan & Anr 263 ITR 706 (SC) 284-312 Date of Judgment 25-09-2018 I.T.A.No.155/2016 and connected matters The Pr. Commissioner of Income Tax & Ors. Vs. M/s. Chamundi Winery and Distillery 100/137 a case of taxability of Lease…

Pr. Commissioner of Income Tax vs. M/S Chamundi Winery and Distillery

ITA/467/2015HC Karnataka25 Sept 2018

Bench: S.SUJATHA,VINEET KOTHARI

Section 260

…8] 404 ITR 409(SC), a Two Judges’ Bench of the Hon’ble Supreme Court dealt with Sl.No OTHER CASE LAWS Page No 11 Manglore Ganesh Beedi Works Vs. CIT 378 ITR 640 (SC) 64-70 12 D.S. Bist & Sons Vs. CIT 149 ITR 276 (Del) 71-74 37 PCIT Vs. IDMC Ltd. 393 ITR 441 (Guj) 227-233 47 UOI Vs.Azadi Bachao Andolan & Anr 263 ITR 706 (SC) 284-312 Date of Judgment 25-09-2018 I.T.A.No.155/2016 and connected matters The Pr. Commissioner of Income Tax & Ors. Vs. M/s. Chamundi Winery and Distillery 100/137 a case of taxability of Lease…