CIT & Anr. v. Hindustan Pipe Udyog Ltd.

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The Tax Publishers2013 TaxPub(DT) 0520 (All-HC) : (2014) 360 ITR 0437 : (2013) 255 CTR 0389 : (2013) 081 DTR 0175 INCOME TAX ACT, 1961 --Deduction under section 80-IComputation deduction under section 80HH, how to be treated--Question for examination before High Court was whether tribunal was justified in holding that deduction under section 80-I should be allowed on gross total income, without deducting from it, deduction allowed under section 80HH. *Held:* Was justified as under section 80-I deduction was allowable on gross total income, without reducing deduction allowed under section 80HH. Income Tax Act, 1961 Section 80HH Income Tax Act, 1961 Section 80-I INCOME TAX ACT, 1961 --MAT--Book profit under section 115J Adjustment for change in method of charging depreciation--Assessee changed the method of charging depreciation from straight line to WDV method and the amount of depreciation actually debited to P & L account was certified by auditors. *Held:* Following the decision of Apex Court in case of Apollo Tyres Ltd., assessing officer did not had the jurisdiction to go behind the net profit shown in P & L account except to the extent provided in explanation to section 115J. Therefore, book profit was computed by allowing depreciation as per changed method. Income Tax Act, 1961 Section 115J In the Allahabad High Court Sunil Ambwani & Aditya Nath Mittal, JJ. CIT & Anr. v. Hindustan Pipe Udyog Ltd. IT Appeal No. 182 of 2000 28 August, 2012 Revenue by : A. N. Mahajan, A. Kumar, B. J. Agarwal, Dhananjai Awasthi, G. Krishna, R. K. Upadhyay & S. Chopra Assessee by : Rohit Agarwal, R. S. Agarwal & Bhoopesh Jain JUDGMENT *By The Court :* We have heard Sri Dhananjai Awasthi for the appellant-Department. SUBSCRIBE FOR FULL CONTENT

The Tax Publishers2013 TaxPub(DT) 0520 (All-HC) : (2014) 360 ITR 0437 : (2013) 255 CTR 0389 : (2013) 081 DTR 0175

INCOME TAX ACT, 1961

--Deduction under section 80-IComputation deduction under section 80HH, how to be treated--Question for examination before High Court was whether tribunal was justified in holding that deduction under section 80-I should be allowed on gross total income, without deducting from it, deduction allowed under section 80HH. Held: Was justified as under section 80-I deduction was allowable on gross total income, without reducing deduction allowed under section 80HH.

Income Tax Act, 1961 Section 80HH

Income Tax Act, 1961 Section 80-I

INCOME TAX ACT, 1961

--MAT--Book profit under section 115J Adjustment for change in method of charging depreciation--Assessee changed the method of charging depreciation from straight line to WDV method and the amount of depreciation actually debited to P & L account was certified by auditors. Held: Following the decision of Apex Court in case of Apollo Tyres Ltd., assessing officer did not had the jurisdiction to go behind the net profit shown in P & L account except to the extent provided in explanation to section 115J. Therefore, book profit was computed by allowing depreciation as per changed method.

Income Tax Act, 1961 Section 115J

In the Allahabad High Court

Sunil Ambwani & Aditya Nath Mittal, JJ.

CIT & Anr. v. Hindustan Pipe Udyog Ltd.

IT Appeal No. 182 of 2000

28 August, 2012

Revenue by : A. N. Mahajan, A. Kumar, B. J. Agarwal, Dhananjai Awasthi, G. Krishna, R. K. Upadhyay & S. Chopra

Assessee by : Rohit Agarwal, R. S. Agarwal & Bhoopesh Jain

JUDGMENT

By The Court :

We have heard Sri Dhananjai Awasthi for the appellant-Department.