DCIT RG. - 3(1), Mumbai vs. M/S. Gujarat Ambuja Cements Ltd., Mumbai
In the result, appeal filed by the assessee is partly allowed and the appeal of the Revenue is dismissed
ITA 4374/MUM/2005[2001-2002]Status: DisposedITAT Mumbai18 Jan 2017AY 2001-2002
Bench: Shri C.N. Prasad, Jm & Shri Rajesh Kumar, Am Gujarat Ambuja Cements Limited, The Dy. Commissioner Of 122, Maker Chambers, Iii, Income-Tax- Range 3(1), फनधभ/ Nariman Point, Aayakar Bhavan, Vs. Mumbai-400021. M K Marg, Mumbai-400020 Dy. Commissioner Of Income- Gujarat Ambuja Cements Tax-Range 3(1), Limited, 122, Maker फनधभ/ Room No.607, 6Th Floor, Chambers, Iii, Nariman Point, Aayakar Bhavan, Mumbai-400021 Vs. M K Marg, Mumbai-400020 स्थधमी रेखध सं./ Pan : Aaacg0569P (अऩीरधथी /Appellant) (प्रत्मथी / Respondent) :
For Appellant: S/Shri Soumen Adak & HarishFor Respondent: Shri K B Shukla
…plant and replace by new one. In support of this contention, the assessee placed reliance on the decision in the case of Alembic Glass Works ltd V/s CIT 177 ITR 377 and the decision of the Hon‟ble Kerala High Court in the case of Vanaja Textiles Ltd V/s CIT (208 ITR 161). The AO rejected the contention of the assessee and added Rs. 1,52,84,680/- to the total income of the assessee by treating it as capital expenditure. Aggrieved by the order of AO, the assessee preferred an appeal before ld. CIT(A), who following the ratio laid down in the case of Sitalpur Sugar Works, V/s CIT 949 ITR 1) (SC), Hardilla Chemicals…
