1. CIT v. Saurashtra Cement 2. S.Zoraster & Co. v. CIT

322 ITR 59Reported decision#15622 most cited
6

judgments rely on this decision, according to BharatTax’s citation analysis of 346,713 Indian tax judgments — from 2020 to 2024.

Judgments citing 1. CIT v. Saurashtra Cement 2. S.Zoraster & Co. v. CIT

Economic Explosives Limited, Nagpur vs. National E Assessment Centre, New Delhi

In the result, appeal for the assessment year 2018–19 filed by the assessee is partly allowed

ITA 242/NAG/2023[2018-19]Status: DisposedITAT Nagpur09 Sept 2024AY 2018-19

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Mani JainFor Respondent: Shri Kailash C. Kanojiya
Section 139Section 142(1)Section 143(2)

…iplexes or theatres then, in that case, such subsidy can be treated as capital in nature and not revenue in nature: DCIT vs. Inox Leisure Ltd. (351 ITR 314) (Guj.); Shree Balaji Alloys vs. CIT (198 Taxmann 122) (J&K); CIT vs. Tiruttani Co-op Sugar Mills Ltd. (322 ITR 59) (Mad.); and CIT vs. Rasoi Ltd. (335 ITR 438) (Cal.). Now, a question arises as to whether the impugned subsidy be reduced while computing the book profit under the MAT provisions of the Act: The Mumbai Tribunal in the case of M/s. Bombay Dyeing & Manufacturing Co. ltd. Bearing ITA No. 4484/Mum/2019 wherein dealing with the identical scheme, it ha…

Economic Explosives Limited, Nagpur vs. Assistant Commissioner of Income Tax, Central Circle 1 (2), Nagpur

In the result, appeal for the assessment year 2018–19 filed by the assessee is partly allowed

ITA 177/NAG/2022[2017-18]Status: DisposedITAT Nagpur09 Sept 2024AY 2017-18

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Mani JainFor Respondent: Shri Kailash C. Kanojiya
Section 139Section 142(1)Section 143(2)

…iplexes or theatres then, in that case, such subsidy can be treated as capital in nature and not revenue in nature: DCIT vs. Inox Leisure Ltd. (351 ITR 314) (Guj.); Shree Balaji Alloys vs. CIT (198 Taxmann 122) (J&K); CIT vs. Tiruttani Co-op Sugar Mills Ltd. (322 ITR 59) (Mad.); and CIT vs. Rasoi Ltd. (335 ITR 438) (Cal.). Now, a question arises as to whether the impugned subsidy be reduced while computing the book profit under the MAT provisions of the Act: The Mumbai Tribunal in the case of M/s. Bombay Dyeing & Manufacturing Co. ltd. Bearing ITA No. 4484/Mum/2019 wherein dealing with the identical scheme, it ha…

Siva Industries and Holdings Limited, Chennai vs. DCIT, Chennai

In the result, the assessee’s appeals in ITA No 1392/2016 for the

ITA 1973/CHNY/2016[2010-11]Status: HeardITAT Chennai21 Jan 2020AY 2010-11

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaraman

Section 250(6)

…rge project and M/S Sahara India Commercial Corporation Ltd. decided not to sell land to it and compensated it. It was submitted that compensation is not Interest and relied upon the following case laws: 1. CIT v. Saurashtra Cement 2. S.Zoraster & Co. v. CIT (322 ITR 59) 3. CIT v. Bombay Burmah Trading Corporation(161 ITR 386) 4. CIT v. T.I & M Sales Ltd. (259 ITR 116) 5. CIT Madras v South India Flour Mills Pvt. Ltd. (75 ITR 147) 6. Parle Soft Drinks Pvt. Ltd. vs KIT (TS 467 ITAT 2013) 7. ACIT vs 3i Infotech Ltd.(TD 417 ITAT 2013) 8. CIT & Others Vs. Sapthagiri Distilleries Ltd. (366 ITR 270) 9. Khanna and Anand…

DCIT, Chennai vs. Siva Ventures Ltd., Chennai

In the result, the assessee’s appeals in ITA No 1392/2016 for the

ITA 1421/CHNY/2016[2008-2009]Status: DisposedITAT Chennai21 Jan 2020AY 2008-2009

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaraman

Section 250(6)

…rge project and M/S Sahara India Commercial Corporation Ltd. decided not to sell land to it and compensated it. It was submitted that compensation is not Interest and relied upon the following case laws: 1. CIT v. Saurashtra Cement 2. S.Zoraster & Co. v. CIT (322 ITR 59) 3. CIT v. Bombay Burmah Trading Corporation(161 ITR 386) 4. CIT v. T.I & M Sales Ltd. (259 ITR 116) 5. CIT Madras v South India Flour Mills Pvt. Ltd. (75 ITR 147) 6. Parle Soft Drinks Pvt. Ltd. vs KIT (TS 467 ITAT 2013) 7. ACIT vs 3i Infotech Ltd.(TD 417 ITAT 2013) 8. CIT & Others Vs. Sapthagiri Distilleries Ltd. (366 ITR 270) 9. Khanna and Anand…

DCIT, Chennai vs. Siva Ventures Limited, Chennai

In the result, the assessee’s appeals in ITA No 1392/2016 for the

ITA 663/CHNY/2015[2010-11]Status: DisposedITAT Chennai21 Jan 2020AY 2010-11

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaraman

Section 250(6)

…rge project and M/S Sahara India Commercial Corporation Ltd. decided not to sell land to it and compensated it. It was submitted that compensation is not Interest and relied upon the following case laws: 1. CIT v. Saurashtra Cement 2. S.Zoraster & Co. v. CIT (322 ITR 59) 3. CIT v. Bombay Burmah Trading Corporation(161 ITR 386) 4. CIT v. T.I & M Sales Ltd. (259 ITR 116) 5. CIT Madras v South India Flour Mills Pvt. Ltd. (75 ITR 147) 6. Parle Soft Drinks Pvt. Ltd. vs KIT (TS 467 ITAT 2013) 7. ACIT vs 3i Infotech Ltd.(TD 417 ITAT 2013) 8. CIT & Others Vs. Sapthagiri Distilleries Ltd. (366 ITR 270) 9. Khanna and Anand…

DCIT, Chennai vs. Siva Ventures Ltd., Chennai

In the result, the assessee’s appeals in ITA No 1392/2016 for the

ITA 1075/CHNY/2014[2009-10]Status: DisposedITAT Chennai21 Jan 2020AY 2009-10

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaraman

Section 250(6)

…rge project and M/S Sahara India Commercial Corporation Ltd. decided not to sell land to it and compensated it. It was submitted that compensation is not Interest and relied upon the following case laws: 1. CIT v. Saurashtra Cement 2. S.Zoraster & Co. v. CIT (322 ITR 59) 3. CIT v. Bombay Burmah Trading Corporation(161 ITR 386) 4. CIT v. T.I & M Sales Ltd. (259 ITR 116) 5. CIT Madras v South India Flour Mills Pvt. Ltd. (75 ITR 147) 6. Parle Soft Drinks Pvt. Ltd. vs KIT (TS 467 ITAT 2013) 7. ACIT vs 3i Infotech Ltd.(TD 417 ITAT 2013) 8. CIT & Others Vs. Sapthagiri Distilleries Ltd. (366 ITR 270) 9. Khanna and Anand…