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Documents citing Madura Coats Private Limited, ... vs Dcit, Madurai on 16 November, 2016

Dcit, Chennai vs Amec Foster Wheeler India Private ... on 25 November, 2016

For applying both these explanations, the threshold requirement is that the expenditure claimed is capital in nature. If the expenditure claimed is not capital in nature then irrespective of the question whether it was incurred in a leasehold premise or on own premises, it will be allowable. Jurisdictional High Court has clearly held that in the case of Thiru Arooran sugars Ltd (supra) that expenditure incurred on false ceiling and office renovation were revenue in nature. The question thus is not whether expenditure is incurred in lease hold premises or not, the question is whether expenditure incurred capital in :- 9 -: ITA Nos.1530& 1761/Mds/2016 nature or not. No doubt, assessee had furnished a break-up of the expenditure before ld. Commissioner of Income Tax (Appeals). In our opinion, none of the authorities verified whether the expenditure included any capital outgo or not. We are therefore of the opinion that matter requires a fresh look by the ld. Assessing Officer. We set aside the orders of the lower authorities and remit the issue regarding claim of expenditure on improvement of leasehold asset back to the file of the ld. Assessing Officer for consideration afresh in accordance with law. Ground No. 2 of the assessee is allowed for statistical purpose.
Income Tax Appellate Tribunal - Chennai Cites 13 - Cited by 0 - Full Document

Jcit, Range-1, , Madurai vs Madura Coats Pvt. Ltd.,, Karnataka on 10 April, 2023

4. The Ld.Counsel for the assessee referring to the order of the Hon'ble Madras High Court in the case of M/s.Madura Coats Pvt. Ltd. v. DCIT in TCA No.799/2018 dated 30.09.2020 submitted that these appeals have come back from the Hon'ble High Court to decide the issue of appropriate method to be adopted for bench marking transactions of the assessee with its AE and the Hon'ble High Court while deciding the issue had followed earlier decision in the assessee's own case for the AY 2009-10, where the Hon'ble High Court has set aside the issue to the file of the Tribunal for adjudication on appropriate method. Therefore, the order of the Tribunal for the AY MA Nos.46 & 47/Chny/2023 (in ITA No.3281/Chny/2019 & in ITA No.548/Chny/2016) :: 4 ::
Income Tax Appellate Tribunal - Chennai Cites 3 - Cited by 0 - Full Document
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