SB) in Indusind Bank Ltd. v. ADIT

19 Taxmann.com 173Reported decision2012#4148 most cited

What is SB) in Indusind Bank Ltd. v. ADIT authority for?

A Special Bench decision of the Tribunal rendered prior to a Supreme Court decision is subordinate to the Supreme Court ruling.

28

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2025.

Also referred to as

Indusind Bank Ltd. v. ADIT · 19 Taxmann.com 173 · Special Bench decision · Supreme Court decision · ICDS Limited v. CIT · precedent · judicial hierarchy

Sections most often in play

Section 143(3)Section 115JBSection 142(1)Section 143(2)Section 144CSection 254Section 271(1)(c)Section 32

Judgments citing SB) in Indusind Bank Ltd. v. ADIT

APPASAHEB NALAWADE GADHINGLAJ SAHAKARI SAKHAR KARKHANA LTD.,KOLHAPUR vs. DC/ACIT CIRCLE-1, KOLHAPUR, KOLHAPUR

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

ITA 2524/PUN/2024[2018-19]Status: DisposedITAT Pune21 May 2025AY 2018-19

Bench: SHRI R. K. PANDA (Vice President), SHRI VINAY BHAMORE (Judicial Member)

For Appellant: Shri Pramod S. ShingteFor Respondent: Shri Shashank Ojha
Section 143(3)Section 32

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “SMC”, PUNE BEFORE SHRI R. K. PANDA, VICE PRESIDENT AND SHRI VINAY BHAMORE, JUDICIAL MEMBER आयकर अपील सं. / ITA No.2524/PUN/2024 िनधा"रण वष" / Assessment Year : 2018-19 Appasaheb Nalawade Vs. DC/ACIT, Circle-1, Gadhinglaj Sahakari Sakhar Kolhapur. Karkhana Ltd., 434A, At Post- Harali Gadhinglaj Mahagaon Road, Kolhapur- 416502. PAN : AAAAG0574A Appellant Respondent Assessee by : Shri Pramod S. Shingte Revenue by : Shri Shashank Ojha Date of hearing : 24.02.2025 Date of pronouncement 21.05.2025 : आदेश / ORDER PER VINAY BHAMORE, JM: This appeal filed by the assessee i…

RIO TINTO INDIA PVT. LTD. ,HARYANA vs. ACIT CIRCLE 19(1), DELHI

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

ITA 2021/DEL/2021[2011-12]Status: DisposedITAT Delhi26 Jun 2024AY 2011-12
Section 115JSection 142(1)Section 143(2)Section 143(3)Section 144CSection 254Section 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘F’: NEW DELHI BEFORE, SHRI S.RIFAUR RAHMAN, ACCOUNTANT MEMBER AND SHRI SUDHIR PAREEK, JUDICIAL MEMBER M/s Rio Tinto India ACIT Private Ltd. Circle-19(1) 21st Floor, DLF Vs. New Delhi Building No.5 Tower A, DLF Cybercity Phase-III, Gurugram Haryana-122002 PAN:AAACR5591A (Appellant) (Respondent) Assessee by Shri Nageshwar Rao, Advocate & Ms Anshika Agarwal, Adv. Respondent by Shri P.N. Barnwal, CIT- DR Date of Hearing 16/05/2024 Date of Pronouncement 26/06/2024 ORDER PER S.RIFAUR RAHMAN, AM: 1. This appeal has been preferred by the Assessee against the fina…

TTK PROTECTIVE DEVICES LIMITED,CHENNAI vs. ACIT CORPORATE CIRCLE 3(1), CHENNAI

The appeal stand allowed accordingly

ITA 1966/CHNY/2017[2013-14]Status: DisposedITAT Chennai03 Aug 2022AY 2013-14

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri Vikram Vijayaraghavan (Advocate)-Ld. ARFor Respondent: Shri ARV. Sreenivasan (Addl. CIT) –Ld. DR
Section 143(3)

…e that the assessee was obligated to return the containers to the lessor at the end of lease term. 16. The Ld. CIT-DR has referred to various judicial decisions in support of revenue’s case. The decision of Mumbai Tribunal (SB) in Indusind Bank Ltd. V/s ADIT (19 Taxmann.com 173; 14.03.2012) is a decision which has been rendered prior to the decision of Hon’ble Supreme Court in ICDS Limited Vs CIT (supra) which has been rendered on 14.01.2013. Undisputedly, the decision of Hon’ble Supreme Court would have precedence over the decision of Special Bench of Tribunal. The decision in Asea Brown Boveri Ltd. V/s IFCI (15…

TTK PROTECTIVE DEVICES LIMITED,CHENNAI vs. ACIT CORPORATE CIRCLE 3(1), CHENNAI

The appeal stand allowed accordingly

ITA 1965/CHNY/2017[2011-12]Status: DisposedITAT Chennai03 Aug 2022AY 2011-12

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri Vikram Vijayaraghavan (Advocate)-Ld. ARFor Respondent: Shri ARV. Sreenivasan (Addl. CIT) –Ld. DR
Section 143(3)

…e that the assessee was obligated to return the containers to the lessor at the end of lease term. 16. The Ld. CIT-DR has referred to various judicial decisions in support of revenue’s case. The decision of Mumbai Tribunal (SB) in Indusind Bank Ltd. V/s ADIT (19 Taxmann.com 173; 14.03.2012) is a decision which has been rendered prior to the decision of Hon’ble Supreme Court in ICDS Limited Vs CIT (supra) which has been rendered on 14.01.2013. Undisputedly, the decision of Hon’ble Supreme Court would have precedence over the decision of Special Bench of Tribunal. The decision in Asea Brown Boveri Ltd. V/s IFCI (15…

M/S SUNDARAM INFOTECH SOLUTIONS LIMITED (MERGED WITH SUNDARAM FINANCE LIMITED),CHENNAI vs. ACIT CORPORATE CIRCLE 6 (2), CHENNAI

The appeal stand partly allowed in terms of our above order

ITA 2517/CHNY/2019[2014-15]Status: DisposedITAT Chennai06 Jul 2022AY 2014-15

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri. R. Vijayaraghavan (Advocate) – Ld. ARFor Respondent: Shri G. Johnson (Addl. CIT) –Ld. DR
Section 143(3)

…e that the assessee was obligated to return the containers to the lessor at the end of lease term. 16. The Ld. CIT-DR has referred to various judicial decisions in support of revenue’s case. The decision of Mumbai Tribunal (SB) in Indusind Bank Ltd. V/s ADIT (19 Taxmann.com 173; 14.03.2012) is a decision which has been rendered prior to the decision of Hon’ble Supreme Court in ICDS Limited Vs CIT (supra) which has been rendered on 14.01.2013. Undisputedly, the decision of Hon’ble Supreme Court would have precedence over the decision of Special Bench of Tribunal. The decision in Asea Brown Boveri Ltd. V/s IFCI (15…

M/S SUNDARAM INFOTECH SOLUTIONS LIMITED (MERGED WITH SUNDARAM FINANCE LIMITED),CHENNAI vs. ACIT CORPORATE CIRCLE 6 (2), CHENNAI

The appeal stand partly allowed in terms of our above order

ITA 2516/CHNY/2019[2012-13]Status: DisposedITAT Chennai06 Jul 2022AY 2012-13

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri. R. Vijayaraghavan (Advocate) – Ld. ARFor Respondent: Shri G. Johnson (Addl. CIT) –Ld. DR
Section 143(3)

…e that the assessee was obligated to return the containers to the lessor at the end of lease term. 16. The Ld. CIT-DR has referred to various judicial decisions in support of revenue’s case. The decision of Mumbai Tribunal (SB) in Indusind Bank Ltd. V/s ADIT (19 Taxmann.com 173; 14.03.2012) is a decision which has been rendered prior to the decision of Hon’ble Supreme Court in ICDS Limited Vs CIT (supra) which has been rendered on 14.01.2013. Undisputedly, the decision of Hon’ble Supreme Court would have precedence over the decision of Special Bench of Tribunal. The decision in Asea Brown Boveri Ltd. V/s IFCI (15…

M/S SUNDARAM INFOTECH SOLUTIONS LIMITED (MERGED WITH SUNDARAM FINANCE LIMITED),CHENNAI vs. ACIT CORPORATE CIRCLE 6 (2), CHENNAI

The appeal stand partly allowed in terms of our above order

ITA 2515/CHNY/2019[2011-12]Status: DisposedITAT Chennai06 Jul 2022AY 2011-12

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri. R. Vijayaraghavan (Advocate) – Ld. ARFor Respondent: Shri G. Johnson (Addl. CIT) –Ld. DR
Section 143(3)

…e that the assessee was obligated to return the containers to the lessor at the end of lease term. 16. The Ld. CIT-DR has referred to various judicial decisions in support of revenue’s case. The decision of Mumbai Tribunal (SB) in Indusind Bank Ltd. V/s ADIT (19 Taxmann.com 173; 14.03.2012) is a decision which has been rendered prior to the decision of Hon’ble Supreme Court in ICDS Limited Vs CIT (supra) which has been rendered on 14.01.2013. Undisputedly, the decision of Hon’ble Supreme Court would have precedence over the decision of Special Bench of Tribunal. The decision in Asea Brown Boveri Ltd. V/s IFCI (15…

M/S. TRISTAR CONTAINER SERVICES (ASIA) PRIVATE LIMITED,CHENNAI vs. ACIT, CHENNAI

The appeal stands partly allowed

ITA 292/CHNY/2019[2014-15]Status: DisposedITAT Chennai15 Jun 2022AY 2014-15

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपीलसं./Ita No.937/Chny/2016 (िनधाEरणवषE / Assessment Year: 2007-08) & आयकरअपीलसं./Ita No.938/Chny/2016 (िनधाEरणवषE / Assessment Year: 2008-09) & आयकरअपीलसं./Ita No.939/Chny/2016 (िनधाEरणवषE / Assessment Year: 2009-10) & आयकरअपीलसं./Ita No.940/Chny/2016 (िनधाEरणवषE / Assessment Year: 2010-11) & आयकरअपीलसं./Ita No.941/Chny/2016 (िनधाEरणवषE / Assessment Year: 2011-12) & आयकरअपीलसं./Ita No.942/Chny/2016 (िनधाEरणवषE / Assessment Year: 2012-13) & आयकरअपीलसं./Ita Nos.292/Chny/2019 (िनधाEरणवषE / Assessment Year: 2014-15) M/S. Tristar Container Services Acit बनाम/ (Asia) Private Limited Company Circle Iii (1), No. 18, Swamy Sivananda Salai, Chennai – 600 034. Vs. Chepauk, Chennai 600 005. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaact-4043-K (अपीलाथ"/Appellant) : (""थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri S. Sridhar (Advocate)-Ld. Ar ""थ"कीओरसे/Respondent By : Shri S. Palani Kumar (Cit)–Ld. Dr सुनवाईकीतारीख/ : 06-05-2022 Date Of Hearing घोषणाकीतारीख / : 15-06-2022 Date Of Pronouncement

For Appellant: Shri S. Sridhar (Advocate)-Ld. ARFor Respondent: Shri S. Palani Kumar (CIT)–Ld. DR

…e that the assessee was obligated to return the containers to the lessor at the end of lease term. 16. The Ld. CIT-DR has referred to various judicial decisions in support of revenue’s case. The decision of Mumbai Tribunal (SB) in Indusind Bank Ltd. V/s ADIT (19 Taxmann.com 173; 14.03.2012) is a decision which has been rendered prior to the decision of Hon’ble Supreme Court in ICDS Limited Vs CIT (supra) which has been rendered on 14.01.2013. Undisputedly, the decision of Hon’ble Supreme Court would have precedence over the decision of Special Bench of Tribunal. The decision in Asea Brown Boveri Ltd. V/s IFCI (15…

TRISTAR CONTAINER SERVICES (ASIA) PRIVATE LIMITED,CHENNAI vs. ACIT, CHENNAI

The appeal stands partly allowed

ITA 942/CHNY/2016[2012-13]Status: DisposedITAT Chennai15 Jun 2022AY 2012-13

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपीलसं./Ita No.937/Chny/2016 (िनधाEरणवषE / Assessment Year: 2007-08) & आयकरअपीलसं./Ita No.938/Chny/2016 (िनधाEरणवषE / Assessment Year: 2008-09) & आयकरअपीलसं./Ita No.939/Chny/2016 (िनधाEरणवषE / Assessment Year: 2009-10) & आयकरअपीलसं./Ita No.940/Chny/2016 (िनधाEरणवषE / Assessment Year: 2010-11) & आयकरअपीलसं./Ita No.941/Chny/2016 (िनधाEरणवषE / Assessment Year: 2011-12) & आयकरअपीलसं./Ita No.942/Chny/2016 (िनधाEरणवषE / Assessment Year: 2012-13) & आयकरअपीलसं./Ita Nos.292/Chny/2019 (िनधाEरणवषE / Assessment Year: 2014-15) M/S. Tristar Container Services Acit बनाम/ (Asia) Private Limited Company Circle Iii (1), No. 18, Swamy Sivananda Salai, Chennai – 600 034. Vs. Chepauk, Chennai 600 005. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaact-4043-K (अपीलाथ"/Appellant) : (""थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri S. Sridhar (Advocate)-Ld. Ar ""थ"कीओरसे/Respondent By : Shri S. Palani Kumar (Cit)–Ld. Dr सुनवाईकीतारीख/ : 06-05-2022 Date Of Hearing घोषणाकीतारीख / : 15-06-2022 Date Of Pronouncement

For Appellant: Shri S. Sridhar (Advocate)-Ld. ARFor Respondent: Shri S. Palani Kumar (CIT)–Ld. DR

…e that the assessee was obligated to return the containers to the lessor at the end of lease term. 16. The Ld. CIT-DR has referred to various judicial decisions in support of revenue’s case. The decision of Mumbai Tribunal (SB) in Indusind Bank Ltd. V/s ADIT (19 Taxmann.com 173; 14.03.2012) is a decision which has been rendered prior to the decision of Hon’ble Supreme Court in ICDS Limited Vs CIT (supra) which has been rendered on 14.01.2013. Undisputedly, the decision of Hon’ble Supreme Court would have precedence over the decision of Special Bench of Tribunal. The decision in Asea Brown Boveri Ltd. V/s IFCI (15…

TRISTAR CONTAINER SERVICES (ASIA) PRIVATE LIMITED,CHENNAI vs. ACIT, CHENNAI

The appeal stands partly allowed

ITA 941/CHNY/2016[2011-12]Status: DisposedITAT Chennai15 Jun 2022AY 2011-12

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपीलसं./Ita No.937/Chny/2016 (िनधाEरणवषE / Assessment Year: 2007-08) & आयकरअपीलसं./Ita No.938/Chny/2016 (िनधाEरणवषE / Assessment Year: 2008-09) & आयकरअपीलसं./Ita No.939/Chny/2016 (िनधाEरणवषE / Assessment Year: 2009-10) & आयकरअपीलसं./Ita No.940/Chny/2016 (िनधाEरणवषE / Assessment Year: 2010-11) & आयकरअपीलसं./Ita No.941/Chny/2016 (िनधाEरणवषE / Assessment Year: 2011-12) & आयकरअपीलसं./Ita No.942/Chny/2016 (िनधाEरणवषE / Assessment Year: 2012-13) & आयकरअपीलसं./Ita Nos.292/Chny/2019 (िनधाEरणवषE / Assessment Year: 2014-15) M/S. Tristar Container Services Acit बनाम/ (Asia) Private Limited Company Circle Iii (1), No. 18, Swamy Sivananda Salai, Chennai – 600 034. Vs. Chepauk, Chennai 600 005. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaact-4043-K (अपीलाथ"/Appellant) : (""थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri S. Sridhar (Advocate)-Ld. Ar ""थ"कीओरसे/Respondent By : Shri S. Palani Kumar (Cit)–Ld. Dr सुनवाईकीतारीख/ : 06-05-2022 Date Of Hearing घोषणाकीतारीख / : 15-06-2022 Date Of Pronouncement

For Appellant: Shri S. Sridhar (Advocate)-Ld. ARFor Respondent: Shri S. Palani Kumar (CIT)–Ld. DR

…e that the assessee was obligated to return the containers to the lessor at the end of lease term. 16. The Ld. CIT-DR has referred to various judicial decisions in support of revenue’s case. The decision of Mumbai Tribunal (SB) in Indusind Bank Ltd. V/s ADIT (19 Taxmann.com 173; 14.03.2012) is a decision which has been rendered prior to the decision of Hon’ble Supreme Court in ICDS Limited Vs CIT (supra) which has been rendered on 14.01.2013. Undisputedly, the decision of Hon’ble Supreme Court would have precedence over the decision of Special Bench of Tribunal. The decision in Asea Brown Boveri Ltd. V/s IFCI (15…

TRISTAR CONTAINER SERVICES (ASIA) PRIVATE LIMITED,CHENNAI vs. ACIT, CHENNAI

The appeal stands partly allowed

ITA 940/CHNY/2016[2010-11]Status: DisposedITAT Chennai15 Jun 2022AY 2010-11

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपीलसं./Ita No.937/Chny/2016 (िनधाEरणवषE / Assessment Year: 2007-08) & आयकरअपीलसं./Ita No.938/Chny/2016 (िनधाEरणवषE / Assessment Year: 2008-09) & आयकरअपीलसं./Ita No.939/Chny/2016 (िनधाEरणवषE / Assessment Year: 2009-10) & आयकरअपीलसं./Ita No.940/Chny/2016 (िनधाEरणवषE / Assessment Year: 2010-11) & आयकरअपीलसं./Ita No.941/Chny/2016 (िनधाEरणवषE / Assessment Year: 2011-12) & आयकरअपीलसं./Ita No.942/Chny/2016 (िनधाEरणवषE / Assessment Year: 2012-13) & आयकरअपीलसं./Ita Nos.292/Chny/2019 (िनधाEरणवषE / Assessment Year: 2014-15) M/S. Tristar Container Services Acit बनाम/ (Asia) Private Limited Company Circle Iii (1), No. 18, Swamy Sivananda Salai, Chennai – 600 034. Vs. Chepauk, Chennai 600 005. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaact-4043-K (अपीलाथ"/Appellant) : (""थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri S. Sridhar (Advocate)-Ld. Ar ""थ"कीओरसे/Respondent By : Shri S. Palani Kumar (Cit)–Ld. Dr सुनवाईकीतारीख/ : 06-05-2022 Date Of Hearing घोषणाकीतारीख / : 15-06-2022 Date Of Pronouncement

For Appellant: Shri S. Sridhar (Advocate)-Ld. ARFor Respondent: Shri S. Palani Kumar (CIT)–Ld. DR

…e that the assessee was obligated to return the containers to the lessor at the end of lease term. 16. The Ld. CIT-DR has referred to various judicial decisions in support of revenue’s case. The decision of Mumbai Tribunal (SB) in Indusind Bank Ltd. V/s ADIT (19 Taxmann.com 173; 14.03.2012) is a decision which has been rendered prior to the decision of Hon’ble Supreme Court in ICDS Limited Vs CIT (supra) which has been rendered on 14.01.2013. Undisputedly, the decision of Hon’ble Supreme Court would have precedence over the decision of Special Bench of Tribunal. The decision in Asea Brown Boveri Ltd. V/s IFCI (15…

TRISTAR CONTAINER SERVICES (ASIA) PRIVATE LIMITED,CHENNAI vs. ACIT, CHENNAI

The appeal stands partly allowed

ITA 939/CHNY/2016[2009-10]Status: DisposedITAT Chennai15 Jun 2022AY 2009-10

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपीलसं./Ita No.937/Chny/2016 (िनधाEरणवषE / Assessment Year: 2007-08) & आयकरअपीलसं./Ita No.938/Chny/2016 (िनधाEरणवषE / Assessment Year: 2008-09) & आयकरअपीलसं./Ita No.939/Chny/2016 (िनधाEरणवषE / Assessment Year: 2009-10) & आयकरअपीलसं./Ita No.940/Chny/2016 (िनधाEरणवषE / Assessment Year: 2010-11) & आयकरअपीलसं./Ita No.941/Chny/2016 (िनधाEरणवषE / Assessment Year: 2011-12) & आयकरअपीलसं./Ita No.942/Chny/2016 (िनधाEरणवषE / Assessment Year: 2012-13) & आयकरअपीलसं./Ita Nos.292/Chny/2019 (िनधाEरणवषE / Assessment Year: 2014-15) M/S. Tristar Container Services Acit बनाम/ (Asia) Private Limited Company Circle Iii (1), No. 18, Swamy Sivananda Salai, Chennai – 600 034. Vs. Chepauk, Chennai 600 005. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaact-4043-K (अपीलाथ"/Appellant) : (""थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri S. Sridhar (Advocate)-Ld. Ar ""थ"कीओरसे/Respondent By : Shri S. Palani Kumar (Cit)–Ld. Dr सुनवाईकीतारीख/ : 06-05-2022 Date Of Hearing घोषणाकीतारीख / : 15-06-2022 Date Of Pronouncement

For Appellant: Shri S. Sridhar (Advocate)-Ld. ARFor Respondent: Shri S. Palani Kumar (CIT)–Ld. DR

…e that the assessee was obligated to return the containers to the lessor at the end of lease term. 16. The Ld. CIT-DR has referred to various judicial decisions in support of revenue’s case. The decision of Mumbai Tribunal (SB) in Indusind Bank Ltd. V/s ADIT (19 Taxmann.com 173; 14.03.2012) is a decision which has been rendered prior to the decision of Hon’ble Supreme Court in ICDS Limited Vs CIT (supra) which has been rendered on 14.01.2013. Undisputedly, the decision of Hon’ble Supreme Court would have precedence over the decision of Special Bench of Tribunal. The decision in Asea Brown Boveri Ltd. V/s IFCI (15…

TRISTAR CONTAINER SERVICES (ASIA) PRIVATE LIMITED,CHENNAI vs. ACIT, CHENNAI

The appeal stands partly allowed

ITA 938/CHNY/2016[2008-09]Status: DisposedITAT Chennai15 Jun 2022AY 2008-09

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपीलसं./Ita No.937/Chny/2016 (िनधाEरणवषE / Assessment Year: 2007-08) & आयकरअपीलसं./Ita No.938/Chny/2016 (िनधाEरणवषE / Assessment Year: 2008-09) & आयकरअपीलसं./Ita No.939/Chny/2016 (िनधाEरणवषE / Assessment Year: 2009-10) & आयकरअपीलसं./Ita No.940/Chny/2016 (िनधाEरणवषE / Assessment Year: 2010-11) & आयकरअपीलसं./Ita No.941/Chny/2016 (िनधाEरणवषE / Assessment Year: 2011-12) & आयकरअपीलसं./Ita No.942/Chny/2016 (िनधाEरणवषE / Assessment Year: 2012-13) & आयकरअपीलसं./Ita Nos.292/Chny/2019 (िनधाEरणवषE / Assessment Year: 2014-15) M/S. Tristar Container Services Acit बनाम/ (Asia) Private Limited Company Circle Iii (1), No. 18, Swamy Sivananda Salai, Chennai – 600 034. Vs. Chepauk, Chennai 600 005. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaact-4043-K (अपीलाथ"/Appellant) : (""थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri S. Sridhar (Advocate)-Ld. Ar ""थ"कीओरसे/Respondent By : Shri S. Palani Kumar (Cit)–Ld. Dr सुनवाईकीतारीख/ : 06-05-2022 Date Of Hearing घोषणाकीतारीख / : 15-06-2022 Date Of Pronouncement

For Appellant: Shri S. Sridhar (Advocate)-Ld. ARFor Respondent: Shri S. Palani Kumar (CIT)–Ld. DR

…e that the assessee was obligated to return the containers to the lessor at the end of lease term. 16. The Ld. CIT-DR has referred to various judicial decisions in support of revenue’s case. The decision of Mumbai Tribunal (SB) in Indusind Bank Ltd. V/s ADIT (19 Taxmann.com 173; 14.03.2012) is a decision which has been rendered prior to the decision of Hon’ble Supreme Court in ICDS Limited Vs CIT (supra) which has been rendered on 14.01.2013. Undisputedly, the decision of Hon’ble Supreme Court would have precedence over the decision of Special Bench of Tribunal. The decision in Asea Brown Boveri Ltd. V/s IFCI (15…

TRISTAR CONTAINER SERVICES (ASIA) PRIVATE LIMITED,CHENNAI vs. ACIT, CHENNAI

The appeal stands partly allowed

ITA 937/CHNY/2016[2007-08]Status: DisposedITAT Chennai15 Jun 2022AY 2007-08

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपीलसं./Ita No.937/Chny/2016 (िनधाEरणवषE / Assessment Year: 2007-08) & आयकरअपीलसं./Ita No.938/Chny/2016 (िनधाEरणवषE / Assessment Year: 2008-09) & आयकरअपीलसं./Ita No.939/Chny/2016 (िनधाEरणवषE / Assessment Year: 2009-10) & आयकरअपीलसं./Ita No.940/Chny/2016 (िनधाEरणवषE / Assessment Year: 2010-11) & आयकरअपीलसं./Ita No.941/Chny/2016 (िनधाEरणवषE / Assessment Year: 2011-12) & आयकरअपीलसं./Ita No.942/Chny/2016 (िनधाEरणवषE / Assessment Year: 2012-13) & आयकरअपीलसं./Ita Nos.292/Chny/2019 (िनधाEरणवषE / Assessment Year: 2014-15) M/S. Tristar Container Services Acit बनाम/ (Asia) Private Limited Company Circle Iii (1), No. 18, Swamy Sivananda Salai, Chennai – 600 034. Vs. Chepauk, Chennai 600 005. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaact-4043-K (अपीलाथ"/Appellant) : (""थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri S. Sridhar (Advocate)-Ld. Ar ""थ"कीओरसे/Respondent By : Shri S. Palani Kumar (Cit)–Ld. Dr सुनवाईकीतारीख/ : 06-05-2022 Date Of Hearing घोषणाकीतारीख / : 15-06-2022 Date Of Pronouncement

For Appellant: Shri S. Sridhar (Advocate)-Ld. ARFor Respondent: Shri S. Palani Kumar (CIT)–Ld. DR

…e that the assessee was obligated to return the containers to the lessor at the end of lease term. 16. The Ld. CIT-DR has referred to various judicial decisions in support of revenue’s case. The decision of Mumbai Tribunal (SB) in Indusind Bank Ltd. V/s ADIT (19 Taxmann.com 173; 14.03.2012) is a decision which has been rendered prior to the decision of Hon’ble Supreme Court in ICDS Limited Vs CIT (supra) which has been rendered on 14.01.2013. Undisputedly, the decision of Hon’ble Supreme Court would have precedence over the decision of Special Bench of Tribunal. The decision in Asea Brown Boveri Ltd. V/s IFCI (15…

M/S MAHARASHTRA APEX CORPORATION LIMITED ,MANIPAL vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1 , UDUPI , UDUPI

240 & 241/Bang/2018

ITA 255/BANG/2018[2012-13]Status: DisposedITAT Bangalore20 Sept 2019AY 2012-13

Bench: Shri A. K. Garodia & Shri Pavan Kumar Gadale

For Appellant: Shri Anil Kumar Rao, C. AFor Respondent: Shri Vikas Suryavamshi, Addl. CIT DR
Section 143Section 154

…m the depreciation will be allowed. The extract from Board Circular No 762 dated 18-2-1998 explaining this provision is enclosed as page 83 of the paper book. 14.The CIT-A appeal erred in relying upon the decision in Indus Ind Bank Ltd case reported in [2012] 19 Taxmann.com 173( Mumbai) (SB) which relied upon the ABB case (supra) when the Hon'ble Supreme Court in ICDS Ltd vs CIT (supra) was available holding that Lessor is entitled for depreciation as the owner in case of leased vehicles though the same may be registered in the names of the lessees and under the Motor Vehicles Act they are treated as the register…

M/S MAHARASHTRA APEX CORPORATION LIMITED ,MANIPAL vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1 , , UDUPI

240 & 241/Bang/2018

ITA 254/BANG/2018[2011-12]Status: DisposedITAT Bangalore20 Sept 2019AY 2011-12

Bench: Shri A. K. Garodia & Shri Pavan Kumar Gadale

For Appellant: Shri Anil Kumar Rao, C. AFor Respondent: Shri Vikas Suryavamshi, Addl. CIT DR
Section 143Section 154

…m the depreciation will be allowed. The extract from Board Circular No 762 dated 18-2-1998 explaining this provision is enclosed as page 83 of the paper book. 14.The CIT-A appeal erred in relying upon the decision in Indus Ind Bank Ltd case reported in [2012] 19 Taxmann.com 173( Mumbai) (SB) which relied upon the ABB case (supra) when the Hon'ble Supreme Court in ICDS Ltd vs CIT (supra) was available holding that Lessor is entitled for depreciation as the owner in case of leased vehicles though the same may be registered in the names of the lessees and under the Motor Vehicles Act they are treated as the register…

M/S MAHARASHTRA APEX CORPORATION LIMITED ,MANIPAL vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1 , , UDUPI

240 & 241/Bang/2018

ITA 253/BANG/2018[2008-09]Status: DisposedITAT Bangalore20 Sept 2019AY 2008-09

Bench: Shri A. K. Garodia & Shri Pavan Kumar Gadale

For Appellant: Shri Anil Kumar Rao, C. AFor Respondent: Shri Vikas Suryavamshi, Addl. CIT DR
Section 143Section 154

…m the depreciation will be allowed. The extract from Board Circular No 762 dated 18-2-1998 explaining this provision is enclosed as page 83 of the paper book. 14.The CIT-A appeal erred in relying upon the decision in Indus Ind Bank Ltd case reported in [2012] 19 Taxmann.com 173( Mumbai) (SB) which relied upon the ABB case (supra) when the Hon'ble Supreme Court in ICDS Ltd vs CIT (supra) was available holding that Lessor is entitled for depreciation as the owner in case of leased vehicles though the same may be registered in the names of the lessees and under the Motor Vehicles Act they are treated as the register…

M/S MAHARASHTRA APEX CORPORATION LIMITED ,MANIPAL vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1 , , UDUPI

240 & 241/Bang/2018

ITA 252/BANG/2018[2007-08]Status: DisposedITAT Bangalore20 Sept 2019AY 2007-08

Bench: Shri A. K. Garodia & Shri Pavan Kumar Gadale

For Appellant: Shri Anil Kumar Rao, C. AFor Respondent: Shri Vikas Suryavamshi, Addl. CIT DR
Section 143Section 154

…m the depreciation will be allowed. The extract from Board Circular No 762 dated 18-2-1998 explaining this provision is enclosed as page 83 of the paper book. 14.The CIT-A appeal erred in relying upon the decision in Indus Ind Bank Ltd case reported in [2012] 19 Taxmann.com 173( Mumbai) (SB) which relied upon the ABB case (supra) when the Hon'ble Supreme Court in ICDS Ltd vs CIT (supra) was available holding that Lessor is entitled for depreciation as the owner in case of leased vehicles though the same may be registered in the names of the lessees and under the Motor Vehicles Act they are treated as the register…

M/S MAHARASHTRA APEX CORPORATION LIMITED ,MANIPAL vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1 , , UDUPI

240 & 241/Bang/2018

ITA 251/BANG/2018[2006-07]Status: DisposedITAT Bangalore20 Sept 2019AY 2006-07

Bench: Shri A. K. Garodia & Shri Pavan Kumar Gadale

For Appellant: Shri Anil Kumar Rao, C. AFor Respondent: Shri Vikas Suryavamshi, Addl. CIT DR
Section 143Section 154

…m the depreciation will be allowed. The extract from Board Circular No 762 dated 18-2-1998 explaining this provision is enclosed as page 83 of the paper book. 14.The CIT-A appeal erred in relying upon the decision in Indus Ind Bank Ltd case reported in [2012] 19 Taxmann.com 173( Mumbai) (SB) which relied upon the ABB case (supra) when the Hon'ble Supreme Court in ICDS Ltd vs CIT (supra) was available holding that Lessor is entitled for depreciation as the owner in case of leased vehicles though the same may be registered in the names of the lessees and under the Motor Vehicles Act they are treated as the register…

M/S MAHARASHTRA APEX CORPORATION LIMITED ,MANIPAL vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1 , , UDUPI

240 & 241/Bang/2018

ITA 250/BANG/2018[2005-06]Status: DisposedITAT Bangalore20 Sept 2019AY 2005-06

Bench: Shri A. K. Garodia & Shri Pavan Kumar Gadale

For Appellant: Shri Anil Kumar Rao, C. AFor Respondent: Shri Vikas Suryavamshi, Addl. CIT DR
Section 143Section 154

…m the depreciation will be allowed. The extract from Board Circular No 762 dated 18-2-1998 explaining this provision is enclosed as page 83 of the paper book. 14.The CIT-A appeal erred in relying upon the decision in Indus Ind Bank Ltd case reported in [2012] 19 Taxmann.com 173( Mumbai) (SB) which relied upon the ABB case (supra) when the Hon'ble Supreme Court in ICDS Ltd vs CIT (supra) was available holding that Lessor is entitled for depreciation as the owner in case of leased vehicles though the same may be registered in the names of the lessees and under the Motor Vehicles Act they are treated as the register…

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SB) in Indusind Bank Ltd. v. ADIT (19 Taxmann.com 173) — Cited in 28 Judgments | BharatTax