PR. CIT CIRCLE-2, MUMBAI vs. BHARAT PRTROLEUM CORPORATION LTD., MUMBAI
In the result, the appeal of the assessee is partly allowed
ITA 1601/MUM/2020[2016-17]Status: DisposedITAT Mumbai05 Sept 2022AY 2016-17
Bench: Shri Pramod Kumar, Vp & Shri Aby T. Varkey, Jm आयकर अपील सं/ I.T.A. No.1601/Mum/2020 (निर्धारण वर्ा / Assessment Year: 2016-17) Bharat Petroleum बिधम/ Pcit, Circle-2 Corporation Ltd. Room No.344, Aayakar Vs. Taxation Section, Bhavan, M. K. Road, 4Th Floor, Bharat Bhavan 1, Mumbai-400020. 4 & 6 Currimbhoy Road, Ballard Estate, Mumbai- 400001. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaacb2902M (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Jehangir D. Mistry Revenue By: Dr. Mahesh Akhade (Dr) सुनवाई की तारीख / Date Of Hearing: 28/06/2022 घोषणा की तारीख /Date Of Pronouncement: 05/09/2022 आदेश / O R D E R Per Aby T. Varkey, Jm: This Appeal Has Been Preferred By The Assessee Against The Order Of The Ld. Principal Commissioner Of Income Tax-02 [Hereinafter Referred To As The “Pcit”], Mumbai Dated 21.02.2020 For Assessment Year [Hereinafter Referred To As “Ay”] 2016-17 Passed Under Section 263 Of The Income Tax Act, 1961 [Hereinafter Referred To As “The Act”].
For Appellant: Shri Jehangir D. MistryFor Respondent: Dr. Mahesh Akhade (DR)
Section 10(34)Section 142(1)Section 143(3)Section 2Section 263Section 32A
Saraspur Mills Ltd., 36 ITR 580 (Bom), the Hon'ble Jurisdictional High Court explained the meaning of word “installed” as occurring in section 10(2)(vib) of 1922 Act. The Hon’ble Court held:
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A.Y. 2016-17
Bharat Petroleum Corporation
“The expression ‘installed’ is also used in the sense ... intended to include vehicle”
Thus, the Hon’ble High Court rejected the argument of the Revenue that the expression ‘plant’ used in Section 10(2)(vib) of 1922 Act postulates fixed in a position and does not include vehicles.
11.2
Thus, from above decisions and dictionary meaning of the word
