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Documents citing The Asstt. Commissioner Of Income-Tax vs Alembic Glass Industries Limited on 10 November, 2006

The Dcit, Circle-1(1),, Baroda vs Gujarat Flurochemicals Ltd.,, Baroda on 28 June, 2019

38. We have duly considered rival contentions and gone through the record carefully. Issue before us is, whether receipts received by the assessee on sale of alleged carbon credit is revenue in nature or capital in nature. An identical question was formulated by the Hon'ble Gujarat High Court in the case of CIT Vs. Alembic Ltd. (supra). The question framed is as under:
Income Tax Appellate Tribunal - Ahmedabad Cites 44 - Cited by 7 - Full Document

Gujarat Fluorochemicals Limited,, ... vs The Deputy Commissioner Of Income Tax, ... on 13 August, 2018

38. We have duly considered rival contentions and gone through the record carefully. Issue before us is, whether receipts received by the assessee on sale of alleged carbon credit is revenue in nature or capital ITA No.805 and 2744/Ahd/2017 34 in nature. An identical question was formulated by the Hon'ble Gujarat High Court in the case of CIT Vs. Alembic Ltd. (supra). The question framed is as under:
Income Tax Appellate Tribunal - Ahmedabad Cites 72 - Cited by 7 - Full Document

Reliance Hypermart Ltd, Mumbai vs Asst Cit 7(2), Mumbai on 27 July, 2018

These are allowable in the year itself as per ratio of aforementioned decision of the Hon'ble Bombay High Court in me case of CIT vs. Kothan Auto Parts Manufacturers Pvt. Ltd.(supra) arid Hon'ble High Court of Gujrat in the case of CIT vs. Alembic Glass Industries Ltd. (supra). These expenditures didl not create, any asset and also did not provide enduring benefit to the business of the assessee so as to say that the expenditure was capital in nature. Therefore, we hold that expenditure are allowable in the year under consideration irrespective of the fact that assessee has given dual status to such expenditure in its books of account vis-a-vis computation of income filed alongwith return.
Income Tax Appellate Tribunal - Mumbai Cites 7 - Cited by 0 - Full Document

Reliance Footprint Ltd, Navi Mumbai vs Assessee on 8 October, 2013

These are allowable in the year itself as per ratio of aforementioned decision of the Hon'ble Bombay High Court in the case of CIT vs. Kothari Auto Parts Manufacturers Pvt. Ltd.(supra) and Hon'ble High Court of Gujrat in the case of CIT vs. Alembic Glass Industries Ltd. (supra). These expenditures 15 ITA No. 5997/Mum/2011 A.Y. 2008-09 did not create any asset and also did not provide enduring benefit to the business of the assessee so as to say that the expenditure was capital in nature. Therefore, we hold that expenditure are allowable in the year under consideration irrespective of the fact that assessee has given dual status to such expenditure in its books of account vis-à-vis computation of income filed alongwith return.
Income Tax Appellate Tribunal - Mumbai Cites 8 - Cited by 0 - Full Document

Vodafone Mobile Services Ltd. vs Deputy Commissioner Of Income Tax on 11 March, 2025

In the case of CIT v. Alembic Glass Industries Ltd. (1976) 103 ITR 715, the Gujarat High Court dealt with a similar situation wherein the assessee- company had an existing unit for manufacture of glass at Baroda since 1947. During the relevant assessment years 1965-66 and 1966-67, the assessee-company incurred expenditure for establishing a new glass unit at Bangalore. The unit at Bangalore did not go into production during the aforesaid two assessment years in question and, therefore, during the course of assessment, the Income-tax Officer disallowed the payment of interest on borrowings in respect of the aforesaid two assessment years. The Income-tax Officer was also of the view that the Bangalore unit was not a branch of the assessee factory at Baroda and was, therefore, a new business and since this new business had not started production, the payment of interest could not be taken as revenue expenditure. The Gujarat High Court was called upon to answer the following questions (page 719):
Delhi High Court Cites 54 - Cited by 0 - Y Varma - Full Document

Siddhayu Aaurvedic Research ... vs Addl/Jt/Acit/Ito/Nfac/// The Acit ... on 24 September, 2024

In this context, the decision relied on by the authorities below of this Court in the case of Alembic Glass Industries Ltd. (supra) laid down tests for ascertaining whether a business was part of existing business or the assessee was starting a new unit. It was held that merely because the unit was coming to a distant point by itself would not mean that it was a new business.
Income Tax Appellate Tribunal - Mumbai Cites 53 - Cited by 0 - Full Document
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