128 Taxman 394 (Bomba Mahindra & Mahindra Ltd. v. CIT

116 TTJ 941Income Tax Appellate Tribunal2008#22228 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2021.

Judgments citing 128 Taxman 394 (Bomba Mahindra & Mahindra Ltd. v. CIT

M/S. PRICEWATERHOUSE COOPERS PRIVATE LIMITED,KOLKATA vs. ACIT, CIRCLE - 2(2), KOLKATA, KOLKATA

In the result, appeal of the assessee is allowed partly

ITA 359/KOL/2018[2009-10]Status: DisposedITAT Kolkata21 Apr 2021AY 2009-10

Section 143(3)Section 250

…336 (Delhi HC] iv) Mahindra & Mahindra Ltd. vs. CIT [(2003) 128 Taxman 394 (Bomba Mahindra & Mahindra Ltd. vs. CIT [(2003) 128 Taxman 394 (Bomba Mahindra & Mahindra Ltd. vs. CIT [(2003) 128 Taxman 394 (Bombay HC)] v) DCIT vs. Tosha International Ltd. [(2008) 116 TTJ 941 (Delhi Tribunal)] DCIT vs. Tosha International Ltd. [(2008) 116 TTJ 941 (Delhi Tribunal)] DCIT vs. Tosha International Ltd. [(2008) 116 TTJ 941 (Delhi Tribunal)] 28. The judgment in the case of The judgment in the case of M/s. Ramaniyam Homes (supra) relied upon by the relied upon by the ld. CIT(A) stands reversed post the judgment of the Hon’bl…

M/S. HI- TECH ELECTROTHERMICS & HYDROPOWER LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, appeal filed by the assessee stands allowed

ITA 6080/DEL/2013[2007-08]Status: DisposedITAT Delhi04 Aug 2016AY 2007-08

Bench: Shri S. V. Mehrotra & Smt. Beena A. Pillai

For Appellant: Shri V.K. Jian, CAFor Respondent: Shri A. K. Saroha, CIT, DR

Section 143(2)Section 250Section 41

…was taken by the assessee for carrying out its manufacturing activities at the unit set up in Palakkad, Kerala. Ld. A.R. has placed his reliance upon the decision of Hon'ble Jurisdictional High Court in the case of DCIT Vs Tosha International Ltd. reported in 116 TTJ 941 wherein, in the identical circumstances, it was held that: 15 I.T.A.No.6080/Del/2013 “As per our considered view, for attracting the provisions of S.41(1), the first requisite condition to be satisfied is that’s the assessee should have got deduction or benefit of allowance in respect of loss, expenditure or trading liability incurred by it and…

M/S. R.G. SCIENTIFIC ENTERPRISES PVT. LTD.,NEW DELHI vs. DCIT, NEW DELHI

The appeal is partly allowed for statistical purpose

ITA 1246/DEL/2013[2009-10]Status: DisposedITAT Delhi15 Jan 2016AY 2009-10

Bench: Shri Inturi Rama Rao & Smt Suchitra Kamblei.T.A .No.-1246/Del/2013 (Assessment Year-2009-10)

Section 115Section 115JSection 41(1)

…of principle of laws which was a well for the purpose of plant and machinery then such amount of waiver cannot be taxable as income as per the provisions of Section 41(1) of the Act. A similar issue has come up in the case of CIT Vs. Tushar International Ltd 116 TTJ 941 where the Delhi High Court has held that waiver of the account is not chargeable to tax in the hands of the assessee u/s 41(1) nor u/s 28 (iv) nor u/s 2(XXIV) of the Act. Special Leave Petition filed by the Revenue against the said judgment of the Delhi High Court was dismissed by the Supreme Court. Vide order dated 24th July 2009. Reliance is al…