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Documents citing Cit vs Mahavir Drilling Co. on 4 October, 2004

Sanjay Kumar, Gurgaon vs Ito,Ward-4(1), Gurgaon on 21 June, 2023

In the case of CIT Vs. Mahavir Drilling Co. (supra), investment allowance claimed by the assessee on drilling machines was granted by the AO. The AO later realised that the investment allowance could not have been claimed by the assessee on the drilling machine or in other words, it was noticed that the same was wrongly granted. However by order dated 19-10-1992, the AO withdrew the benefit of investment allowance by taking recourse to the provisions of rectification.
Income Tax Appellate Tribunal - Delhi Cites 7 - Cited by 0 - Full Document

Aviaxpert Pvt. Ltd., New Delhi vs Ito Ward 3(1), New Delhi on 9 August, 2024

7. Ld. Counsel for the assessee also placed reliance on the decision of the Madhya Pradesh High Court in the case of CIT Vs. Mahavir Drilling Company (273 ITR 201) for the proposition that when there are divergent views of High Courts existing on the date of grant of relief to the assessee, Assessing Officer is not justified in 5 I.T.A.No.87/Del/2024 withdrawing such relief by way of rectification based on subsequent decision of the Hon'ble Supreme Court.
Income Tax Appellate Tribunal - Delhi Cites 29 - Cited by 0 - Full Document

Travel Retail Service Private Limited , ... vs Acti, Circle 8(3)(1), Mumbai on 29 August, 2024

In the case of CIT vs. Mahavir Drilling Co. reported in 273 ITR 201 (MP), investment allowance claimed by the assessee on drilling machines was granted by the AO. The AO later realized that the investment allowance could not have been claimed by the assessee on the drilling machine or in other words, it was noticed that the same was wrongly granted. However, by order dated 19/10/1992, the AO withdrew the benefit of investment allowance by taking recourse to the provisions of rectification.
Income Tax Appellate Tribunal - Mumbai Cites 3 - Cited by 0 - Full Document
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