1. CIT Vs J.H. Golta 156ITR 323(SC) 2. Mysore Minerals Ltd. v. CIT

259 ITR 51Supreme Court of India2003#5325 most cited
22

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2025.

Judgments citing 1. CIT Vs J.H. Golta 156ITR 323(SC) 2. Mysore Minerals Ltd. v. CIT

SURYA SINGHAL,KOTA vs. ASSTT. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR

In the result, the appeal of the assessee is allowed

ITA 928/JPR/2025[2019-20]Status: DisposedITAT Jaipur17 Sept 2025AY 2019-20
For Appellant: Shri Vijay Goyal, C.AFor Respondent: Sh. Gaurav Awasthi, JCIT-DR
Section 115BSection 132(4)Section 143(3)Section 250Section 69

…d\nthat a fortiori, clarificatory circulars issued by the Central Board of Direct\nTaxes may also be taken into consideration for the purpose of construction\nof the statute. The Hon'ble Supreme Court in case of Kerala State\nIndustrial Dev. Corporation Ltd., 259 ITR 51 (SC) has also held that\nFinance Minister's speech before Parliament while introducing bill can be\nrelied on to throw light on object and purpose of provisions. In case of\nDurgesh Oil Mills, 273 ITR 305 (All.), the Hon'ble Allahabad High\nCourt has held that it is well settled that the circular issued by the Central\nBoard of Direct Taxes is bin…

THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-4(1)(2),, AHMEDABAD vs. VIJAY M. MISTRY CONSTRUCTION PVT. LTD.,, AHMEDABAD

In the result, assessee’s appeals are allowed and Revenue’s appeal is dismissed

ITA 1481/AHD/2019[2012-13]Status: DisposedITAT Ahmedabad23 Dec 2022AY 2012-13

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./I.T.A. No. 2938/Ahd/2011, 2939/Ahd/2011, 2286/Ahd/2012, 268/Ahd/2015, 269/Ahd/2015, 502/Ahd/2017, 1145/Ahd/2019 & 1468/Ahd/2019 ("नधा"रण वष" / Assessment Year : 2007-08, 2008-09, 2009-10, 2010-11, 2011-12, 2012-13, 2013-14 & 2016-17) Address In A.Ys. 2007-08, बनाम/ 2008-09 & 2009-10 Vs. Vijay M. Mistry Cons. P. Asst. Commissioner Of Ltd. Income Tax Circle–8, B-209, 2Nd Floor, 501, Swagat, C. G. Road, Panjara Pole, Pratyakshkar Ellisbridge, Ahmedabad – & Bhavan, Ambawadi, 380006 (Gujarat) Ahmedabad Address In A.Ys. 2010-11 Joint Commissioner Of Income Tax Vijay M. Mistry Cons. P. Range-8, B-209, 2Nd Floor, Ltd. Panjara Pole, Pratyakshkar “Mistry House”, 9, Preyas Bhavan, Ambawadi, Society, Opp. Gulbai Ahmedabad Tekra Police Choki & Ambawadi, Ahmedabad – 380015 Address In A.Ys. 2011-12 Vijay M. Mistry Cons. P. Dy. Commissioner Of Ltd. Income Tax (Osd) & Circle–8, B-209, 2Nd Floor, “Mistry House”, 9, Preyas Panjara Pole, Pratyakshkar Society, Opp. Gulbai Bhavan, Ambawadi, Tekra Police Choki, Ahmedabad Ambawadi, Ahmedabad –

Section 143(3)Section 271(1)(c)Section 36(1)(va)Section 80I

…Section 80IA/80IA(4) of the Act. In support of the contention, the assessee further relied upon the following judgments: 1. CIT Vs J.H. Golta 156ITR 323(SC) 2. Mysore Minerals Ltd Vs CIT 239 ITR 775(SC) 3. Kerala State Industrial Development Corpn Ltd Vs CIT 259 ITR 51(SC) 4. Bajaj Tempo Ltd Vs CIT 196 ITR 188(SC) 5. Gujarat Industrial Development Corporation and Others Vs CIT 227 ITR 414(SC) 6. CIT Vs Strawboard Manufacturing Co Ltd 177 ITR 431(SC) However, such plea taken by the assessee was not found to be acceptable and, thus, the assessment under Section 143(3) of the Act was completed on 23.12.2009 disall…

VIJAY M.MISTRY CONSTRUCTION PVT.LTD.,,AHMEDABAD vs. THE ACIT.,CIRCLE-8,, AHMEDABAD

In the result, assessee’s appeals are allowed and Revenue’s appeal is dismissed

ITA 2938/AHD/2011[2007-08]Status: DisposedITAT Ahmedabad23 Dec 2022AY 2007-08

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./I.T.A. No. 2938/Ahd/2011, 2939/Ahd/2011, 2286/Ahd/2012, 268/Ahd/2015, 269/Ahd/2015, 502/Ahd/2017, 1145/Ahd/2019 & 1468/Ahd/2019 ("नधा"रण वष" / Assessment Year : 2007-08, 2008-09, 2009-10, 2010-11, 2011-12, 2012-13, 2013-14 & 2016-17) Address In A.Ys. 2007-08, बनाम/ 2008-09 & 2009-10 Vs. Vijay M. Mistry Cons. P. Asst. Commissioner Of Ltd. Income Tax Circle–8, B-209, 2Nd Floor, 501, Swagat, C. G. Road, Panjara Pole, Pratyakshkar Ellisbridge, Ahmedabad – & Bhavan, Ambawadi, 380006 (Gujarat) Ahmedabad Address In A.Ys. 2010-11 Joint Commissioner Of Income Tax Vijay M. Mistry Cons. P. Range-8, B-209, 2Nd Floor, Ltd. Panjara Pole, Pratyakshkar “Mistry House”, 9, Preyas Bhavan, Ambawadi, Society, Opp. Gulbai Ahmedabad Tekra Police Choki & Ambawadi, Ahmedabad – 380015 Address In A.Ys. 2011-12 Vijay M. Mistry Cons. P. Dy. Commissioner Of Ltd. Income Tax (Osd) & Circle–8, B-209, 2Nd Floor, “Mistry House”, 9, Preyas Panjara Pole, Pratyakshkar Society, Opp. Gulbai Bhavan, Ambawadi, Tekra Police Choki, Ahmedabad Ambawadi, Ahmedabad –

Section 143(3)Section 271(1)(c)Section 36(1)(va)Section 80I

…Section 80IA/80IA(4) of the Act. In support of the contention, the assessee further relied upon the following judgments: 1. CIT Vs J.H. Golta 156ITR 323(SC) 2. Mysore Minerals Ltd Vs CIT 239 ITR 775(SC) 3. Kerala State Industrial Development Corpn Ltd Vs CIT 259 ITR 51(SC) 4. Bajaj Tempo Ltd Vs CIT 196 ITR 188(SC) 5. Gujarat Industrial Development Corporation and Others Vs CIT 227 ITR 414(SC) 6. CIT Vs Strawboard Manufacturing Co Ltd 177 ITR 431(SC) However, such plea taken by the assessee was not found to be acceptable and, thus, the assessment under Section 143(3) of the Act was completed on 23.12.2009 disall…

ITO -E (2)(4), MUMBAI vs. INDO ITALIAN CHAMBER OF COMMERCE & INDUSTRY, MUMBAI

In the result, appeal of the Revenue is dismissed

ITA 6237/MUM/2019[2009-10]Status: DisposedITAT Mumbai22 Jun 2021AY 2009-10
Section 11Section 12ASection 143(3)Section 2(15)

…to their members would not be affected by the amendment. The assessee also placed reliance on the decision of Hon’ble Supreme Court in the case of KP.Varghese vs. ITO 131 ITR 597 (SC), in the case of Kerala State Industrial Development Corporation Ltd. vs.CIT 259 ITR 51 and R &B Falcon (A) Ply. Ltd. vs. CII 301 ITR 309(SC) so contend that the Finance Minister speech can be relied upon to throw light on the object and purposes of the particular provisions introduced by the Finance Bill and that if the language of section is ambiguous then for the purposes of interpretation, the speech delivered by the Hon'ble Fina…

THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3, GUWAHATI vs. M/S. NUMALIGARH REFINERY LTD., GUWAHATI

In the result, appeals of the assessee in I

ITA 278/GTY/2018[2015-16]Status: DisposedITAT Guwahati13 Sept 2019AY 2015-16

Bench: Shri S.S. Godara, Jm & Dr. A.L. Saini, Am Assessee`S Appeals

For Appellant: Shri Jayanta Dutta, ARFor Respondent: Shri Sanjay Sarma, DR
Section 80

…ly be referred to for the purpose of ascertaining the mischief sought to be remedied by the legislation and the object and purpose for which the legislation is enacted. The H’ble Apex Court in the case of Kerala State Industrial Development Corporation (2003) 259 ITR 51 (SC) has held that the Finance Minister’s Speech can be relied upon to throw light on the object and purpose of the particular provisions introduced by the Finance bill. Moreover, if petroleum is not included in the meaning of ‘mineral oil’, there was no reason to extend concession to public sector companies till 31-03-2012.The speech of the Hon’b…

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 03, GUWAHATI vs. NUMALIGARH REFINERY LIMITED, GUWAHATI

In the result, appeals of the assessee in I

ITA 28/GTY/2017[2013-14]Status: DisposedITAT Guwahati13 Sept 2019AY 2013-14

Bench: Shri S.S. Godara, Jm & Dr. A.L. Saini, Am Assessee`S Appeals

For Appellant: Shri Jayanta Dutta, ARFor Respondent: Shri Sanjay Sarma, DR
Section 80

…ly be referred to for the purpose of ascertaining the mischief sought to be remedied by the legislation and the object and purpose for which the legislation is enacted. The H’ble Apex Court in the case of Kerala State Industrial Development Corporation (2003) 259 ITR 51 (SC) has held that the Finance Minister’s Speech can be relied upon to throw light on the object and purpose of the particular provisions introduced by the Finance bill. Moreover, if petroleum is not included in the meaning of ‘mineral oil’, there was no reason to extend concession to public sector companies till 31-03-2012.The speech of the Hon’b…

NUMALIGARH REFINERY LIMITED,GUWAHATI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 03, GUWAHATI

In the result, appeals of the assessee in I

ITA 27/GTY/2017[2013-14]Status: DisposedITAT Guwahati13 Sept 2019AY 2013-14

Bench: Shri S.S. Godara, Jm & Dr. A.L. Saini, Am Assessee`S Appeals

For Appellant: Shri Jayanta Dutta, ARFor Respondent: Shri Sanjay Sarma, DR
Section 80

…ly be referred to for the purpose of ascertaining the mischief sought to be remedied by the legislation and the object and purpose for which the legislation is enacted. The H’ble Apex Court in the case of Kerala State Industrial Development Corporation (2003) 259 ITR 51 (SC) has held that the Finance Minister’s Speech can be relied upon to throw light on the object and purpose of the particular provisions introduced by the Finance bill. Moreover, if petroleum is not included in the meaning of ‘mineral oil’, there was no reason to extend concession to public sector companies till 31-03-2012.The speech of the Hon’b…

THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3, GUWAHATI vs. M/S. NUMALIGARH REFINERY LTD., GUWAHATI

In the result, appeals of the assessee in I

ITA 98/GTY/2016[2012-13]Status: DisposedITAT Guwahati13 Sept 2019AY 2012-13

Bench: Shri S.S. Godara, Jm & Dr. A.L. Saini, Am Assessee`S Appeals

For Appellant: Shri Jayanta Dutta, ARFor Respondent: Shri Sanjay Sarma, DR
Section 80

…ly be referred to for the purpose of ascertaining the mischief sought to be remedied by the legislation and the object and purpose for which the legislation is enacted. The H’ble Apex Court in the case of Kerala State Industrial Development Corporation (2003) 259 ITR 51 (SC) has held that the Finance Minister’s Speech can be relied upon to throw light on the object and purpose of the particular provisions introduced by the Finance bill. Moreover, if petroleum is not included in the meaning of ‘mineral oil’, there was no reason to extend concession to public sector companies till 31-03-2012.The speech of the Hon’b…

THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3, GUWAHATI vs. M/S. NUMALIGARH REFINERY LTD., GUWAHATI

In the result, appeals of the assessee in I

ITA 97/GTY/2016[2011-12]Status: DisposedITAT Guwahati13 Sept 2019AY 2011-12

Bench: Shri S.S. Godara, Jm & Dr. A.L. Saini, Am Assessee`S Appeals

For Appellant: Shri Jayanta Dutta, ARFor Respondent: Shri Sanjay Sarma, DR
Section 80

…ly be referred to for the purpose of ascertaining the mischief sought to be remedied by the legislation and the object and purpose for which the legislation is enacted. The H’ble Apex Court in the case of Kerala State Industrial Development Corporation (2003) 259 ITR 51 (SC) has held that the Finance Minister’s Speech can be relied upon to throw light on the object and purpose of the particular provisions introduced by the Finance bill. Moreover, if petroleum is not included in the meaning of ‘mineral oil’, there was no reason to extend concession to public sector companies till 31-03-2012.The speech of the Hon’b…

M/S. NUMALIGARH REFINERY LTD.,GUWAHATI vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3, GUWAHATI

In the result, appeals of the assessee in I

ITA 90/GTY/2016[2012-13]Status: DisposedITAT Guwahati13 Sept 2019AY 2012-13

Bench: Shri S.S. Godara, Jm & Dr. A.L. Saini, Am Assessee`S Appeals

For Appellant: Shri Jayanta Dutta, ARFor Respondent: Shri Sanjay Sarma, DR
Section 80

…ly be referred to for the purpose of ascertaining the mischief sought to be remedied by the legislation and the object and purpose for which the legislation is enacted. The H’ble Apex Court in the case of Kerala State Industrial Development Corporation (2003) 259 ITR 51 (SC) has held that the Finance Minister’s Speech can be relied upon to throw light on the object and purpose of the particular provisions introduced by the Finance bill. Moreover, if petroleum is not included in the meaning of ‘mineral oil’, there was no reason to extend concession to public sector companies till 31-03-2012.The speech of the Hon’b…

M/S. NUMALIGARH REFINERY LTD.,GUWAHATI vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3, GUWAHATI

In the result, appeals of the assessee in I

ITA 89/GTY/2016[2010-11]Status: DisposedITAT Guwahati13 Sept 2019AY 2010-11

Bench: Shri S.S. Godara, Jm & Dr. A.L. Saini, Am Assessee`S Appeals

For Appellant: Shri Jayanta Dutta, ARFor Respondent: Shri Sanjay Sarma, DR
Section 80

…ly be referred to for the purpose of ascertaining the mischief sought to be remedied by the legislation and the object and purpose for which the legislation is enacted. The H’ble Apex Court in the case of Kerala State Industrial Development Corporation (2003) 259 ITR 51 (SC) has held that the Finance Minister’s Speech can be relied upon to throw light on the object and purpose of the particular provisions introduced by the Finance bill. Moreover, if petroleum is not included in the meaning of ‘mineral oil’, there was no reason to extend concession to public sector companies till 31-03-2012.The speech of the Hon’b…

M/S. NUMALIGARH REFINERY LTD.,GUWAHATI vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3, GUWAHATI

In the result, appeals of the assessee in I

ITA 8/GTY/2014[2010-11]Status: DisposedITAT Guwahati13 Sept 2019AY 2010-11

Bench: Shri S.S. Godara, Jm & Dr. A.L. Saini, Am Assessee`S Appeals

For Appellant: Shri Jayanta Dutta, ARFor Respondent: Shri Sanjay Sarma, DR
Section 80

…ly be referred to for the purpose of ascertaining the mischief sought to be remedied by the legislation and the object and purpose for which the legislation is enacted. The H’ble Apex Court in the case of Kerala State Industrial Development Corporation (2003) 259 ITR 51 (SC) has held that the Finance Minister’s Speech can be relied upon to throw light on the object and purpose of the particular provisions introduced by the Finance bill. Moreover, if petroleum is not included in the meaning of ‘mineral oil’, there was no reason to extend concession to public sector companies till 31-03-2012.The speech of the Hon’b…

M/S. NUMALIGARH REFINERY LTD.,GUWAHATI vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3, GUWAHATI

In the result, appeals of the assessee in I

ITA 7/GTY/2014[2009-10]Status: DisposedITAT Guwahati13 Sept 2019AY 2009-10

Bench: Shri S.S. Godara, Jm & Dr. A.L. Saini, Am Assessee`S Appeals

For Appellant: Shri Jayanta Dutta, ARFor Respondent: Shri Sanjay Sarma, DR
Section 80

…ly be referred to for the purpose of ascertaining the mischief sought to be remedied by the legislation and the object and purpose for which the legislation is enacted. The H’ble Apex Court in the case of Kerala State Industrial Development Corporation (2003) 259 ITR 51 (SC) has held that the Finance Minister’s Speech can be relied upon to throw light on the object and purpose of the particular provisions introduced by the Finance bill. Moreover, if petroleum is not included in the meaning of ‘mineral oil’, there was no reason to extend concession to public sector companies till 31-03-2012.The speech of the Hon’b…

M/S. NUMALIGARH REFINERY LTD.,GUWAHATI vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3, GUWAHATI

In the result, appeals of the assessee in I

ITA 5/GTY/2014[2007-08]Status: DisposedITAT Guwahati13 Sept 2019AY 2007-08

Bench: Shri S.S. Godara, Jm & Dr. A.L. Saini, Am Assessee`S Appeals

For Appellant: Shri Jayanta Dutta, ARFor Respondent: Shri Sanjay Sarma, DR
Section 80

…ly be referred to for the purpose of ascertaining the mischief sought to be remedied by the legislation and the object and purpose for which the legislation is enacted. The H’ble Apex Court in the case of Kerala State Industrial Development Corporation (2003) 259 ITR 51 (SC) has held that the Finance Minister’s Speech can be relied upon to throw light on the object and purpose of the particular provisions introduced by the Finance bill. Moreover, if petroleum is not included in the meaning of ‘mineral oil’, there was no reason to extend concession to public sector companies till 31-03-2012.The speech of the Hon’b…

SHRI SHARAD AGRAWAL,INDORE vs. THE JCIT RANGE-4, INDORE

In the result, all these three appeals of the Assessees are partly allowed

ITA 153/IND/2013[2009-10]Status: DisposedITAT Indore31 May 2018AY 2009-10

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year : 2009-10

Section 111ASection 143(3)Section 147Section 148

…vision to be ‘drafted with divine prescience and perfect clarity’. We can do no better than repeat the famous words of judge Learned Hand when he said: This has been reiterated in the case of Kerala State Industrial Development Corporation Ltd. Vs. CIT (2003) 259 ITR 51 (SC) as under: ( page 54): “ That the Finance Minister’s speech can be relied upon to throw light on the object and purpose of the particular provisions introduction by the Finance Bill has been recognized by this court in K.P. Varghese Vs. ITO (1981) 131 ITR 597 (SC) , at 609.” Again in the case of R & B Falcon (A) Pty Ltd. vs. CIT (2008) 301 ITR…

The Director of Income Tax (Exemptions) vs. St.Josphs Educational Society

Accordingly, all these STRs are allowed

ITTA/185/2017HC Telangana05 Jun 2017

Bench: SANJAY KUMAR,M.S.K.JAISWAL

…purpose of provisions of law, learned counsels have relied on Apex Court judgment of Kerala State Industrial Development Corporation Ltd. vs. [2023/RJJP/012108] (11 of 22) [STR-182/2017] Commissioner of Income Tax reported in [(2003) 259 ITR 51 (SC)]. 3.7) Learned counsels for the petitioner-assessee have also relied upon judgments delivered by Hyderabad Bench of Income Tax Appellate Tribunals (for short “ITAT”) in the case of Ushodaya Enterprises Ltd. vs. ACIT (ITA Nos. 1241/Hyd/2008 & 591/Hyd/2010; decided on 31.10.2013) reported in (2014) 41 taxman.com 304, judgments of ITAT Mu…

SANJAY KUMAR PODDAR,MUMBAI vs. JCIT (OSD) 15(1), MUMBAI

Appeal is allowed in favour of the assessee, in part

ITA 3150/MUM/2014[2009-10]Status: DisposedITAT Mumbai05 Apr 2017AY 2009-10

Bench: S/Shri Rajendra & Ram Lal Negiआयकर अपील अपील संसंसंसं./I.T.A./3150/Mum/2014, िनधा"रण िनधा"रण वष" वष" /Assessment Year: 2009-10 आयकर आयकर आयकर अपील अपील िनधा"रण िनधा"रण वष" वष" Sanjay Kumar J. Poddar, C/O Shankarlal Jt. Commissioner Of Income Tax(Osd), Jain & Associates, Circle 15(1),Matru Mandir, Vs. 12 Engineer Building, 265, Princess Mumbai-400 006. Street, Mumbai – 400 002. Pan:Aabpp 2018 E (अपीलाथ" /Appellant) (""यथ" / Respondent) आयकर अपील अपील संसंसंसं./I.T.A./3961/Mum/2014, िनधा"रण िनधा"रण वष" वष" /Assessment Year: 2009-10 आयकर आयकर आयकर अपील अपील िनधा"रण िनधा"रण वष" वष" Jt. Commissioner Of Income Tax(Osd), Sanjay Kumar J. Poddar, C/O Shankarlal Vs. Jain & Associates, Mumbai – 400 002. Mumbai-400 006. (अपीलाथ" /Appellant) (""यथ" / Respondent) Revenue By: Shri A.K. Nayak- Dr Assessee By: Shri S.L. Jain

For Appellant: Shri S.L. JainFor Respondent: Shri A.K. Nayak- DR
Section 10Section 111ASection 143Section 2Section 254(1)

…ld be idle to expect every statutory provisions to be ‘drafted with divine prescience and perfect clarity.’ 11. The above observations of Hon'ble Judges of the Apex Court was reiterated by Hon'ble Apex Court in the case of Kerala State Industrial Corporation, 259 ITR 51 (SC) holding as under:- ‘That the Finance Minister’s Speech can be relied upon to throw light on the object and purpose of the particular provisions introduction by the Finance Bill has been recognized by this Court in K.P. Verghese – vs ITO 1981), 131 ITR 597 (SC), at 609. Again in the case of R & B Falcon (A) Pvt. Ltd vs CIT (2008) 301 ITR 309 (…

A.C.I.T. CIRCLE 21(1), MUMBAI vs. MOHAN KAPOORCHAND JAIN, MUMBAI

In the result, appeals of the assessees are allowed in part where as appeal of revenue in assessment 2009-2010 is dismissed

ITA 4571/MUM/2012[2009-10]Status: DisposedITAT Mumbai30 Sept 2016AY 2009-10
For Appellant: Shri S.L.Tiwari and Ms. Rutuza N. PawarFor Respondent: Neil Philip

…ience and perfect clarity.‟ We can do better than repeat the famous words of judge Learned Hand when he said.‟‟ The above observations of Hon'ble Judges of the Apex Court was reiterated by Hon'ble Apex Court in the case of Kerala State Industrial Corporation, 259 ITR 51 (SC) holding as under:- „‟That the Finance Minister‟s Speech can be relied upon to throw light on the object and purpose of the particular 10 ITA No.3541,3542,3543,4571-2012, provisions introduction by the Finance Bill has been recognized by this Court in K.P. Verghese - vs ITO 1981), 131 ITR 597 (SC), at 609. Again in the case of R & B Falcon (A…

MOHAN KAPOORCHAND JAIN,MUMBAI vs. ASST CIT 21(1), MUMBAI

In the result, appeals of the assessees are allowed in part where as appeal of revenue in assessment 2009-2010 is dismissed

ITA 3543/MUM/2012[2009-10]Status: DisposedITAT Mumbai30 Sept 2016AY 2009-10
For Appellant: Shri S.L.Tiwari and Ms. Rutuza N. PawarFor Respondent: Neil Philip

…ience and perfect clarity.‟ We can do better than repeat the famous words of judge Learned Hand when he said.‟‟ The above observations of Hon'ble Judges of the Apex Court was reiterated by Hon'ble Apex Court in the case of Kerala State Industrial Corporation, 259 ITR 51 (SC) holding as under:- „‟That the Finance Minister‟s Speech can be relied upon to throw light on the object and purpose of the particular 10 ITA No.3541,3542,3543,4571-2012, provisions introduction by the Finance Bill has been recognized by this Court in K.P. Verghese - vs ITO 1981), 131 ITR 597 (SC), at 609. Again in the case of R & B Falcon (A…

MOHAN KAPOORCHAND JAIN,MUMBAI vs. JCIT 20(2), MUMBAI

In the result, appeals of the assessees are allowed in part where as appeal of revenue in assessment 2009-2010 is dismissed

ITA 3542/MUM/2012[2008-09]Status: DisposedITAT Mumbai30 Sept 2016AY 2008-09
For Appellant: Shri S.L.Tiwari and Ms. Rutuza N. PawarFor Respondent: Neil Philip

…ience and perfect clarity.‟ We can do better than repeat the famous words of judge Learned Hand when he said.‟‟ The above observations of Hon'ble Judges of the Apex Court was reiterated by Hon'ble Apex Court in the case of Kerala State Industrial Corporation, 259 ITR 51 (SC) holding as under:- „‟That the Finance Minister‟s Speech can be relied upon to throw light on the object and purpose of the particular 10 ITA No.3541,3542,3543,4571-2012, provisions introduction by the Finance Bill has been recognized by this Court in K.P. Verghese - vs ITO 1981), 131 ITR 597 (SC), at 609. Again in the case of R & B Falcon (A…

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