Synbiotics Ltd. v. ACIT

370 ITR 119High Court#7432 most cited

What is Synbiotics Ltd. v. ACIT authority for?

Unabsorbed depreciation available as of April 1, 2002, is to be dealt with as per Section 32(2) as amended by the Finance Act, 2001, allowing carry forward without limit.

15

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2016 to 2022.

Also referred to as

Synbiotics Ltd. v. ACIT · 370 ITR 119 · unabsorbed depreciation · Section 32(2) · Finance Act 2001 · carry forward · assessment year 2002-03 · Gujarat High Court

Judgments citing Synbiotics Ltd. v. ACIT

ACIT, Madurai vs. J.K.Fenner (India) Limited, Madurai

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

ITA 967/CHNY/2017[2013-14]Status: DisposedITAT Chennai21 Jan 2022AY 2013-14

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri R. Vijayaraghavan (Advocate) – Ld. ARFor Respondent: Shri M. Murali, Ld. CIT-DR
Section 14ASection 32(2)

…2(2) as amended by Finance Act, 2001 and were available for carry forward and set off against the profits and gains of subsequent years, without any limit whatsoever. Similar is the ratio of decision of Hon’ble Gujarat High Court in Synbiotics Ltd. V/s ACIT (370 ITR 119), the decision of Hon’ble Karnataka High Court in Karnataka Co-op Milk Producers Federation Ltd. V/s DCIT (53 DTR 81) and the decision of Hon’ble High Court of Madras in CIT V/s S&S Power Switch Gears Ltd. (218 CTR 701). 11. So far as the case law of decision of Hon’ble Supreme Court in Peerless General Finance and Investment Co. Ltd. V/s CIT (38…

J.K.Fenner (India) Limited, Chennai vs. ACIT, Madurai

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

ITA 947/CHNY/2017[2013-14]Status: DisposedITAT Chennai21 Jan 2022AY 2013-14

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri R. Vijayaraghavan (Advocate) – Ld. ARFor Respondent: Shri M. Murali, Ld. CIT-DR
Section 14ASection 32(2)

…2(2) as amended by Finance Act, 2001 and were available for carry forward and set off against the profits and gains of subsequent years, without any limit whatsoever. Similar is the ratio of decision of Hon’ble Gujarat High Court in Synbiotics Ltd. V/s ACIT (370 ITR 119), the decision of Hon’ble Karnataka High Court in Karnataka Co-op Milk Producers Federation Ltd. V/s DCIT (53 DTR 81) and the decision of Hon’ble High Court of Madras in CIT V/s S&S Power Switch Gears Ltd. (218 CTR 701). 11. So far as the case law of decision of Hon’ble Supreme Court in Peerless General Finance and Investment Co. Ltd. V/s CIT (38…

ACIT Corporate Circle 1, Madurai vs. J.K.Fenner (India) Ltd., Madurai

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

ITA 1883/CHNY/2017[2014-15]Status: DisposedITAT Chennai21 Jan 2022AY 2014-15

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri R. Vijayaraghavan (Advocate) – Ld. ARFor Respondent: Shri M. Murali, Ld. CIT-DR
Section 14ASection 32(2)

…2(2) as amended by Finance Act, 2001 and were available for carry forward and set off against the profits and gains of subsequent years, without any limit whatsoever. Similar is the ratio of decision of Hon’ble Gujarat High Court in Synbiotics Ltd. V/s ACIT (370 ITR 119), the decision of Hon’ble Karnataka High Court in Karnataka Co-op Milk Producers Federation Ltd. V/s DCIT (53 DTR 81) and the decision of Hon’ble High Court of Madras in CIT V/s S&S Power Switch Gears Ltd. (218 CTR 701). 11. So far as the case law of decision of Hon’ble Supreme Court in Peerless General Finance and Investment Co. Ltd. V/s CIT (38…

J.K.Fenner (India) Limited, Madurai vs. ACIT Corporate Circle 1, Madurai

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

ITA 1846/CHNY/2017[2014-15]Status: DisposedITAT Chennai21 Jan 2022AY 2014-15

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri R. Vijayaraghavan (Advocate) – Ld. ARFor Respondent: Shri M. Murali, Ld. CIT-DR
Section 14ASection 32(2)

…2(2) as amended by Finance Act, 2001 and were available for carry forward and set off against the profits and gains of subsequent years, without any limit whatsoever. Similar is the ratio of decision of Hon’ble Gujarat High Court in Synbiotics Ltd. V/s ACIT (370 ITR 119), the decision of Hon’ble Karnataka High Court in Karnataka Co-op Milk Producers Federation Ltd. V/s DCIT (53 DTR 81) and the decision of Hon’ble High Court of Madras in CIT V/s S&S Power Switch Gears Ltd. (218 CTR 701). 11. So far as the case law of decision of Hon’ble Supreme Court in Peerless General Finance and Investment Co. Ltd. V/s CIT (38…

ACIT, Madurai vs. J.K.Fenner (India) Ltd., Madurai

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

ITA 1272/CHNY/2016[2012-13]Status: DisposedITAT Chennai21 Jan 2022AY 2012-13

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri R. Vijayaraghavan (Advocate) – Ld. ARFor Respondent: Shri M. Murali, Ld. CIT-DR
Section 14ASection 32(2)

…2(2) as amended by Finance Act, 2001 and were available for carry forward and set off against the profits and gains of subsequent years, without any limit whatsoever. Similar is the ratio of decision of Hon’ble Gujarat High Court in Synbiotics Ltd. V/s ACIT (370 ITR 119), the decision of Hon’ble Karnataka High Court in Karnataka Co-op Milk Producers Federation Ltd. V/s DCIT (53 DTR 81) and the decision of Hon’ble High Court of Madras in CIT V/s S&S Power Switch Gears Ltd. (218 CTR 701). 11. So far as the case law of decision of Hon’ble Supreme Court in Peerless General Finance and Investment Co. Ltd. V/s CIT (38…

ACIT, Madurai vs. J.K.Fenner (India) Ltd., Madurai

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

ITA 1078/CHNY/2016[2010-11]Status: DisposedITAT Chennai21 Jan 2022AY 2010-11

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri R. Vijayaraghavan (Advocate) – Ld. ARFor Respondent: Shri M. Murali, Ld. CIT-DR
Section 14ASection 32(2)

…2(2) as amended by Finance Act, 2001 and were available for carry forward and set off against the profits and gains of subsequent years, without any limit whatsoever. Similar is the ratio of decision of Hon’ble Gujarat High Court in Synbiotics Ltd. V/s ACIT (370 ITR 119), the decision of Hon’ble Karnataka High Court in Karnataka Co-op Milk Producers Federation Ltd. V/s DCIT (53 DTR 81) and the decision of Hon’ble High Court of Madras in CIT V/s S&S Power Switch Gears Ltd. (218 CTR 701). 11. So far as the case law of decision of Hon’ble Supreme Court in Peerless General Finance and Investment Co. Ltd. V/s CIT (38…

ACIT, Madurai vs. J.K.Fenner (India) Ltd., Madurai

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

ITA 1077/CHNY/2016[2009-10]Status: DisposedITAT Chennai21 Jan 2022AY 2009-10

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri R. Vijayaraghavan (Advocate) – Ld. ARFor Respondent: Shri M. Murali, Ld. CIT-DR
Section 14ASection 32(2)

…2(2) as amended by Finance Act, 2001 and were available for carry forward and set off against the profits and gains of subsequent years, without any limit whatsoever. Similar is the ratio of decision of Hon’ble Gujarat High Court in Synbiotics Ltd. V/s ACIT (370 ITR 119), the decision of Hon’ble Karnataka High Court in Karnataka Co-op Milk Producers Federation Ltd. V/s DCIT (53 DTR 81) and the decision of Hon’ble High Court of Madras in CIT V/s S&S Power Switch Gears Ltd. (218 CTR 701). 11. So far as the case law of decision of Hon’ble Supreme Court in Peerless General Finance and Investment Co. Ltd. V/s CIT (38…

ACIT, Madurai vs. J.K.Fenner (India) Ltd., Madurai

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

ITA 1076/CHNY/2016[2008-09]Status: DisposedITAT Chennai21 Jan 2022AY 2008-09

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri R. Vijayaraghavan (Advocate) – Ld. ARFor Respondent: Shri M. Murali, Ld. CIT-DR
Section 14ASection 32(2)

…2(2) as amended by Finance Act, 2001 and were available for carry forward and set off against the profits and gains of subsequent years, without any limit whatsoever. Similar is the ratio of decision of Hon’ble Gujarat High Court in Synbiotics Ltd. V/s ACIT (370 ITR 119), the decision of Hon’ble Karnataka High Court in Karnataka Co-op Milk Producers Federation Ltd. V/s DCIT (53 DTR 81) and the decision of Hon’ble High Court of Madras in CIT V/s S&S Power Switch Gears Ltd. (218 CTR 701). 11. So far as the case law of decision of Hon’ble Supreme Court in Peerless General Finance and Investment Co. Ltd. V/s CIT (38…

J.K.Fenner (India) Limited, Chennai vs. JCIT, Madurai

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

ITA 1063/CHNY/2016[2012-13]Status: DisposedITAT Chennai21 Jan 2022AY 2012-13

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri R. Vijayaraghavan (Advocate) – Ld. ARFor Respondent: Shri M. Murali, Ld. CIT-DR
Section 14ASection 32(2)

…2(2) as amended by Finance Act, 2001 and were available for carry forward and set off against the profits and gains of subsequent years, without any limit whatsoever. Similar is the ratio of decision of Hon’ble Gujarat High Court in Synbiotics Ltd. V/s ACIT (370 ITR 119), the decision of Hon’ble Karnataka High Court in Karnataka Co-op Milk Producers Federation Ltd. V/s DCIT (53 DTR 81) and the decision of Hon’ble High Court of Madras in CIT V/s S&S Power Switch Gears Ltd. (218 CTR 701). 11. So far as the case law of decision of Hon’ble Supreme Court in Peerless General Finance and Investment Co. Ltd. V/s CIT (38…

J.K.Fenner (India) Limited, Chennai vs. JCIT, Madurai

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

ITA 1062/CHNY/2016[2011-12]Status: DisposedITAT Chennai21 Jan 2022AY 2011-12

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri R. Vijayaraghavan (Advocate) – Ld. ARFor Respondent: Shri M. Murali, Ld. CIT-DR
Section 14ASection 32(2)

…2(2) as amended by Finance Act, 2001 and were available for carry forward and set off against the profits and gains of subsequent years, without any limit whatsoever. Similar is the ratio of decision of Hon’ble Gujarat High Court in Synbiotics Ltd. V/s ACIT (370 ITR 119), the decision of Hon’ble Karnataka High Court in Karnataka Co-op Milk Producers Federation Ltd. V/s DCIT (53 DTR 81) and the decision of Hon’ble High Court of Madras in CIT V/s S&S Power Switch Gears Ltd. (218 CTR 701). 11. So far as the case law of decision of Hon’ble Supreme Court in Peerless General Finance and Investment Co. Ltd. V/s CIT (38…

J.K.Fenner (India) Limited, Chennai vs. JCIT, Madurai

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

ITA 1061/CHNY/2016[2010-11]Status: DisposedITAT Chennai21 Jan 2022AY 2010-11

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri R. Vijayaraghavan (Advocate) – Ld. ARFor Respondent: Shri M. Murali, Ld. CIT-DR
Section 14ASection 32(2)

…2(2) as amended by Finance Act, 2001 and were available for carry forward and set off against the profits and gains of subsequent years, without any limit whatsoever. Similar is the ratio of decision of Hon’ble Gujarat High Court in Synbiotics Ltd. V/s ACIT (370 ITR 119), the decision of Hon’ble Karnataka High Court in Karnataka Co-op Milk Producers Federation Ltd. V/s DCIT (53 DTR 81) and the decision of Hon’ble High Court of Madras in CIT V/s S&S Power Switch Gears Ltd. (218 CTR 701). 11. So far as the case law of decision of Hon’ble Supreme Court in Peerless General Finance and Investment Co. Ltd. V/s CIT (38…

J.K.Fenner (India) Limited, Chennai vs. JCIT, Madurai

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

ITA 1060/CHNY/2016[2009-10]Status: DisposedITAT Chennai21 Jan 2022AY 2009-10

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri R. Vijayaraghavan (Advocate) – Ld. ARFor Respondent: Shri M. Murali, Ld. CIT-DR
Section 14ASection 32(2)

…2(2) as amended by Finance Act, 2001 and were available for carry forward and set off against the profits and gains of subsequent years, without any limit whatsoever. Similar is the ratio of decision of Hon’ble Gujarat High Court in Synbiotics Ltd. V/s ACIT (370 ITR 119), the decision of Hon’ble Karnataka High Court in Karnataka Co-op Milk Producers Federation Ltd. V/s DCIT (53 DTR 81) and the decision of Hon’ble High Court of Madras in CIT V/s S&S Power Switch Gears Ltd. (218 CTR 701). 11. So far as the case law of decision of Hon’ble Supreme Court in Peerless General Finance and Investment Co. Ltd. V/s CIT (38…

J.K.Fenner (India) Limited, Chennai vs. JCIT, Madurai

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

ITA 1059/CHNY/2016[2008-09]Status: DisposedITAT Chennai21 Jan 2022AY 2008-09

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri R. Vijayaraghavan (Advocate) – Ld. ARFor Respondent: Shri M. Murali, Ld. CIT-DR
Section 14ASection 32(2)

…2(2) as amended by Finance Act, 2001 and were available for carry forward and set off against the profits and gains of subsequent years, without any limit whatsoever. Similar is the ratio of decision of Hon’ble Gujarat High Court in Synbiotics Ltd. V/s ACIT (370 ITR 119), the decision of Hon’ble Karnataka High Court in Karnataka Co-op Milk Producers Federation Ltd. V/s DCIT (53 DTR 81) and the decision of Hon’ble High Court of Madras in CIT V/s S&S Power Switch Gears Ltd. (218 CTR 701). 11. So far as the case law of decision of Hon’ble Supreme Court in Peerless General Finance and Investment Co. Ltd. V/s CIT (38…

DCIT, Chennai vs. Sterling Holiday Financial Services Ltd., Chennai

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

ITA 1128/CHNY/2016[2007-08]Status: DisposedITAT Chennai31 Oct 2017AY 2007-08

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकर अपील सं./Ita No.1128/Mds/2016 "नधा%रण वष% /Assessment Year: 2007-08

Section 143(3)Section 32(1)Section 32(2)

…Aggrieved, the assessee filed an appeal before the CIT (A). The CIT(A) by following the judgments of the Hon’ble Gujarat High Court in the case of General Motors India Pvt. Ltd. vs. DCIT (2013) 354 ITR 244 (Guj) and others reported in 370 ITR 107 (Guj) & 370 ITR 119 (Guj) allowed the appeal. Aggrieved against that order, the Revenue filed this appeal with the following grounds of appeal: 1. The order of the Ld CIT(A) is contrary to law and facts of the case. 2. The Ld CIT(A) direct the AO to allow set off of unabsorbed depreciation against capital gains. 2.1 The Ld CIT(A) failed to appreciate, even though t…

DCIT, Bangalore vs. M/S Hitachi Koki India Ltd., Bangalore

ITA 950/BANG/2015[2008-09]Status: DisposedITAT Bangalore08 Sept 2016AY 2008-09

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Raodeputy Commissioner Of Income-Tax, Circle 3(1)(2), Bangalore. … Appellant Vs. M/S.Hitachi Koki India Ltd., Plot No.9A, 1St Phase, Peenya Industrial Area, Bangalore-560058. … Respondent Pan:Aaach 4391L & Cross Objn.No.195/Bang/2015 (In Ita No.950/Bang/2015) (Assessment Year: 2008-09) (By The Assessee) ****** Revenue By : Shri Sunil Kumar Agarwal, Jcit(Dr). Assessee By : Shri Padamchand Khincha, Ca.

For Appellant: Shri Padamchand Khincha, CAFor Respondent: Shri Sunil Kumar Agarwal, JCIT(DR)
Section 143(2)Section 143(3)Section 154Section 32(2)

…the operative portion of the judgment. Even the judgment was affirmed by the Hon’ble Supreme Court by disposal of the SLP(C) No.11282/13 dated 11/3/2013. The Hon’ble Gujarat High Court had reiterated the same legal position in the case of Synbiotics vs. ACIT (370 ITR 119) wherein it was specifically held that unabsorbed depreciation available to an assessee as on1/4/2002 i.e. assessment year 2002-03 will be dealt with in accordance with provisions of section 32(2) as amended by the Finance Act, 2001 and held as follows: “We are of the considered opinion that any unabsorbed depreciation available to an assessee on…

Synbiotics Ltd. v. ACIT (370 ITR 119) — Cited in 15 Judgments | BharatTax