14 In Sun Export Corporation, Bombay v. Collector of Customs

Sequel Motors Pvt. Ltd, Nagpur vs. Assistant Commissioner of Income Tax, Circle-2, Nagpur

In the result, the aforesaid appeals of the assessee are allowed

Bench: Shri Sandeep Gosain & Shri Arun Khodpia

…riginated from case laws mentioned in ensuing paras that if two views are possible in interpreting the provisions of law in taxation, the one favourable to the assessee has to be preferred. 7.14 In Sun Export Corporation, Bombay vs Collector of Customs (1997) 6 SCC 564 it was observed that “even assuming that there are two views possible, it is well settled that one favourable to the assessee in matters of taxation has to be preferred.”. 7.14 In CIT vs. Gwalior Rayon Silk Mfg. Co. Ltd. (1992) 196 ITR 149 (SC) it has held that provisions for deduction, exemption and relief should be interpreted liberally, reasonab…

Herd Medical Foundation Pvt. Ltd., Nagpur vs. Income Tax Officers, Ward-4(2), Nagpur

In the result, the aforesaid appeals of the assessee are allowed

Bench: Shri Sandeep Gosain & Shri Arun Khodpia

…riginated from case laws mentioned in ensuing paras that if two views are possible in interpreting the provisions of law in taxation, the one favourable to the assessee has to be preferred. 7.14 In Sun Export Corporation, Bombay vs Collector of Customs (1997) 6 SCC 564 it was observed that “even assuming that there are two views possible, it is well settled that one favourable to the assessee in matters of taxation has to be preferred.”. 7.14 In CIT vs. Gwalior Rayon Silk Mfg. Co. Ltd. (1992) 196 ITR 149 (SC) it has held that provisions for deduction, exemption and relief should be interpreted liberally, reasonab…

Herd Medical Foundation Pvt Ltd, Nagpur vs. Income Tax Officer, Income Tax

In the result, the aforesaid appeals of the assessee are allowed

Bench: Shri Sandeep Gosain & Shri Arun Khodpia

…riginated from case laws mentioned in ensuing paras that if two views are possible in interpreting the provisions of law in taxation, the one favourable to the assessee has to be preferred. 7.14 In Sun Export Corporation, Bombay vs Collector of Customs (1997) 6 SCC 564 it was observed that “even assuming that there are two views possible, it is well settled that one favourable to the assessee in matters of taxation has to be preferred.”. 7.14 In CIT vs. Gwalior Rayon Silk Mfg. Co. Ltd. (1992) 196 ITR 149 (SC) it has held that provisions for deduction, exemption and relief should be interpreted liberally, reasonab…

M/S. Mini Iron and Steel Pvt. Ltd., Nagpur vs. Deputy Commissioner of Income Tax, Circel-3, Nagpur

In the result, the aforesaid appeals of the assessee are allowed

Bench: Shri Sandeep Gosain & Shri Arun Khodpia

…riginated from case laws mentioned in ensuing paras that if two views are possible in interpreting the provisions of law in taxation, the one favourable to the assessee has to be preferred. 7.14 In Sun Export Corporation, Bombay vs Collector of Customs (1997) 6 SCC 564 it was observed that “even assuming that there are two views possible, it is well settled that one favourable to the assessee in matters of taxation has to be preferred.”. 7.14 In CIT vs. Gwalior Rayon Silk Mfg. Co. Ltd. (1992) 196 ITR 149 (SC) it has held that provisions for deduction, exemption and relief should be interpreted liberally, reasonab…

Pradeep Kundu, Nagpur vs. Assistant Director of Income Tax, CPC, Banglore

In the result, the aforesaid appeals of the assessee are allowed

Bench: Shri Sandeep Gosain & Shri Arun Khodpia

…riginated from case laws mentioned in ensuing paras that if two views are possible in interpreting the provisions of law in taxation, the one favourable to the assessee has to be preferred. 7.14 In Sun Export Corporation, Bombay vs Collector of Customs (1997) 6 SCC 564 it was observed that “even assuming that there are two views possible, it is well settled that one favourable to the assessee in matters of taxation has to be preferred.”. 7.14 In CIT vs. Gwalior Rayon Silk Mfg. Co. Ltd. (1992) 196 ITR 149 (SC) it has held that provisions for deduction, exemption and relief should be interpreted liberally, reasonab…

Pradeep Kundu, Nagpur vs. Deputy Commissioner of Income Tax, CPC, Banglore

In the result, the aforesaid appeals of the assessee are allowed

Bench: Shri Sandeep Gosain & Shri Arun Khodpia

…riginated from case laws mentioned in ensuing paras that if two views are possible in interpreting the provisions of law in taxation, the one favourable to the assessee has to be preferred. 7.14 In Sun Export Corporation, Bombay vs Collector of Customs (1997) 6 SCC 564 it was observed that “even assuming that there are two views possible, it is well settled that one favourable to the assessee in matters of taxation has to be preferred.”. 7.14 In CIT vs. Gwalior Rayon Silk Mfg. Co. Ltd. (1992) 196 ITR 149 (SC) it has held that provisions for deduction, exemption and relief should be interpreted liberally, reasonab…

Premchand Kanhaiyalal Thakur, Amravati vs. DCIT, CPC, Bengaluru

In the result, the aforesaid appeals of the assessee are allowed

Bench: Shri Sandeep Gosain & Shri Arun Khodpia

…riginated from case laws mentioned in ensuing paras that if two views are possible in interpreting the provisions of law in taxation, the one favourable to the assessee has to be preferred. 7.14 In Sun Export Corporation, Bombay vs Collector of Customs (1997) 6 SCC 564 it was observed that “even assuming that there are two views possible, it is well settled that one favourable to the assessee in matters of taxation has to be preferred.”. 7.14 In CIT vs. Gwalior Rayon Silk Mfg. Co. Ltd. (1992) 196 ITR 149 (SC) it has held that provisions for deduction, exemption and relief should be interpreted liberally, reasonab…

Jaika Vehicle Trade Private Limited, Jaika Building vs. Asstt. Director of Income Tax, Centralized Processing Centre

In the result, the aforesaid appeals of the assessee are allowed

Bench: Shri Sandeep Gosain & Shri Arun Khodpia

…riginated from case laws mentioned in ensuing paras that if two views are possible in interpreting the provisions of law in taxation, the one favourable to the assessee has to be preferred. 7.14 In Sun Export Corporation, Bombay vs Collector of Customs (1997) 6 SCC 564 it was observed that “even assuming that there are two views possible, it is well settled that one favourable to the assessee in matters of taxation has to be preferred.”. 7.14 In CIT vs. Gwalior Rayon Silk Mfg. Co. Ltd. (1992) 196 ITR 149 (SC) it has held that provisions for deduction, exemption and relief should be interpreted liberally, reasonab…

Jaika Vehicle Trade Pvt. Ltd., Nagpur vs. DCIT, Circle-2, Nagpur

In the result, the aforesaid appeals of the assessee are allowed

Bench: Shri Sandeep Gosain & Shri Arun Khodpia

…riginated from case laws mentioned in ensuing paras that if two views are possible in interpreting the provisions of law in taxation, the one favourable to the assessee has to be preferred. 7.14 In Sun Export Corporation, Bombay vs Collector of Customs (1997) 6 SCC 564 it was observed that “even assuming that there are two views possible, it is well settled that one favourable to the assessee in matters of taxation has to be preferred.”. 7.14 In CIT vs. Gwalior Rayon Silk Mfg. Co. Ltd. (1992) 196 ITR 149 (SC) it has held that provisions for deduction, exemption and relief should be interpreted liberally, reasonab…

Shamlax Metachem Private Limited, Nagpur vs. Dy. Commissioner of Income Tax, Bangalore

In the result, the aforesaid appeals of the assessee are allowed

Bench: Shri Sandeep Gosain & Shri Arun Khodpia

…riginated from case laws mentioned in ensuing paras that if two views are possible in interpreting the provisions of law in taxation, the one favourable to the assessee has to be preferred. 7.14 In Sun Export Corporation, Bombay vs Collector of Customs (1997) 6 SCC 564 it was observed that “even assuming that there are two views possible, it is well settled that one favourable to the assessee in matters of taxation has to be preferred.”. 7.14 In CIT vs. Gwalior Rayon Silk Mfg. Co. Ltd. (1992) 196 ITR 149 (SC) it has held that provisions for deduction, exemption and relief should be interpreted liberally, reasonab…

M.W.S. & Co., Bhadohi vs. Dy. C.I.T., Range - 1, Varanasi

In the result, both the appeals are allowed

Bench: Shri.Vijay Pal Rao & Shri Ramit Kocharassessment Year: 2018-19 & Assessment Year: 2019-20 M.W.S. & Co., Naya Bazar V. Dy. Commissioner Of Income Tax, Road, Bhadohi-221401, Uttar Central Processing Centre (Cpc), Pradesh, India Bengaluru [Jurisdictional Assessing Pan-Aaffm2003E Officer Being Dy./Assistant Commissioner Of Income Tax, Range-1, Varanasi, U.P. (Appellant) (Respondent)

…ent of the assessee or the rate of tax? The reference to the Constitution Bench was necessitated essentially for the reason that in a few decisions, one of them by a 3- Judge Bench of this Court in the case of Sun Export Corpn. v. Collector of Customs: [1997] 6 SCC 564, the proposition came to be stated that any ambiguity in a tax provision/notification must be interpreted in favour of the assessee who is claiming benefit thereunder.14 17.1. In Dilip Kumar & Co., the Constitution Bench of this Court examined several of the past decisions including that by another Constitution Bench in CCE v. Hari Chand Shri Gopal…

M.W.S. & Co., Bhadohi vs. Dy. C.I.T., Range - 1, Varanasi

In the result, both the appeals are allowed

Bench: Shri.Vijay Pal Rao & Shri Ramit Kocharassessment Year: 2018-19 & Assessment Year: 2019-20 M.W.S. & Co., Naya Bazar V. Dy. Commissioner Of Income Tax, Road, Bhadohi-221401, Uttar Central Processing Centre (Cpc), Pradesh, India Bengaluru [Jurisdictional Assessing Pan-Aaffm2003E Officer Being Dy./Assistant Commissioner Of Income Tax, Range-1, Varanasi, U.P. (Appellant) (Respondent)

…ent of the assessee or the rate of tax? The reference to the Constitution Bench was necessitated essentially for the reason that in a few decisions, one of them by a 3- Judge Bench of this Court in the case of Sun Export Corpn. v. Collector of Customs: [1997] 6 SCC 564, the proposition came to be stated that any ambiguity in a tax provision/notification must be interpreted in favour of the assessee who is claiming benefit thereunder.14 17.1. In Dilip Kumar & Co., the Constitution Bench of this Court examined several of the past decisions including that by another Constitution Bench in CCE v. Hari Chand Shri Gopal…

Purusottama Estates and Resorts Private Limited, Puri vs. DCIT, CPC, Bangalore

In the result, all the appeals of the assessees are allowed

Bench: Shri Chandra Mohan Garg, Jm & Shri Arun Khodpia, Am आयकर अपीऱ सं./Ita No.95 & 99/Ctk/2021 (नििाारण वषा / Assessment Year :2018-2019 & 2019-2020) Purusottama Estates & Vs Dcit, Cpc, Bangalore Resorts Private Limited, Sri Nahar, Grand Road, Puri-752001 Pan No. : Aabcp 8924 A & आयकर अपीऱ सं./Ita No.97 & 98/Ctk/2021 (नििाारण वषा / Assessment Year :2017-2018 & 2018-2019) Lalchnd Resort Private Limited, Vs Dcit, Cpc, Bangalore Plot No.6, Hotel New Marion, Janpath, Bhubaneswar Pan No. : Aaacl 7289 H & आयकर अपीऱ सं./Ita No.108 & 109/Ctk/2021 (नििाारण वषा / Assessment Year :2017-2018 & 2018-2019) Lalchnd Jewellers Private Limited Vs Dcit, Cpc, Bangalore 4Th Floor, Lalchand Market Complex, Station Square, Bhubaneswar Pan No. : Aaacl 2556 P & आयकर अपीऱ सं./Ita No.110, 111 & 112/Ctk/2021 (नििाारण वषा / Assessment Year :2017-2018 To 2019-2020) Lalchnd Gem & Jeweller Vs Dcit, Cpc, Bangalore Private Limited, 1, Lalchand Market Complex, Station Square, Bhubaneswar Pan No. : Aaccl 9025 H (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. यनधागररती की ओर से /Assessee By : Shri A.K.Sabat, Ca राजस्व की ओर से /Revenue By : Shri Manoj Kumar Goutam, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 10/03/2022 घोषणा की तारीख/Date Of Pronouncement : 06/04/2022

…riginated from case laws mentioned in ensuing paras that if two views are possible in interpreting the provisions of law in taxation, the one favourable to the assessee has to be preferred. 7.14 In Sun Export Corporation, Bombay vs Collector of Customs (1997) 6 SCC 564 it was observed that “even assuming that there are two views possible, it is well settled that one favourable to the assessee in matters of taxation has to be preferred.”. 7.14 In CIT vs. Gwalior Rayon Silk Mfg. Co. Ltd. (1992) 196 ITR 149 (SC) it has held that provisions for deduction, exemption and relief should be interpreted liberally, reasonab…

Lalchnd Resort Private Limited, Bhubaneswar vs. DCIT, CPC, Bangalore

In the result, all the appeals of the assessees are allowed

Bench: Shri Chandra Mohan Garg, Jm & Shri Arun Khodpia, Am आयकर अपीऱ सं./Ita No.95 & 99/Ctk/2021 (नििाारण वषा / Assessment Year :2018-2019 & 2019-2020) Purusottama Estates & Vs Dcit, Cpc, Bangalore Resorts Private Limited, Sri Nahar, Grand Road, Puri-752001 Pan No. : Aabcp 8924 A & आयकर अपीऱ सं./Ita No.97 & 98/Ctk/2021 (नििाारण वषा / Assessment Year :2017-2018 & 2018-2019) Lalchnd Resort Private Limited, Vs Dcit, Cpc, Bangalore Plot No.6, Hotel New Marion, Janpath, Bhubaneswar Pan No. : Aaacl 7289 H & आयकर अपीऱ सं./Ita No.108 & 109/Ctk/2021 (नििाारण वषा / Assessment Year :2017-2018 & 2018-2019) Lalchnd Jewellers Private Limited Vs Dcit, Cpc, Bangalore 4Th Floor, Lalchand Market Complex, Station Square, Bhubaneswar Pan No. : Aaacl 2556 P & आयकर अपीऱ सं./Ita No.110, 111 & 112/Ctk/2021 (नििाारण वषा / Assessment Year :2017-2018 To 2019-2020) Lalchnd Gem & Jeweller Vs Dcit, Cpc, Bangalore Private Limited, 1, Lalchand Market Complex, Station Square, Bhubaneswar Pan No. : Aaccl 9025 H (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. यनधागररती की ओर से /Assessee By : Shri A.K.Sabat, Ca राजस्व की ओर से /Revenue By : Shri Manoj Kumar Goutam, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 10/03/2022 घोषणा की तारीख/Date Of Pronouncement : 06/04/2022

…riginated from case laws mentioned in ensuing paras that if two views are possible in interpreting the provisions of law in taxation, the one favourable to the assessee has to be preferred. 7.14 In Sun Export Corporation, Bombay vs Collector of Customs (1997) 6 SCC 564 it was observed that “even assuming that there are two views possible, it is well settled that one favourable to the assessee in matters of taxation has to be preferred.”. 7.14 In CIT vs. Gwalior Rayon Silk Mfg. Co. Ltd. (1992) 196 ITR 149 (SC) it has held that provisions for deduction, exemption and relief should be interpreted liberally, reasonab…

Lalchnd Resort Private Limited, Bhubaneswar vs. DCIT, CPC, Bangalore

In the result, all the appeals of the assessees are allowed

Bench: Shri Chandra Mohan Garg, Jm & Shri Arun Khodpia, Am आयकर अपीऱ सं./Ita No.95 & 99/Ctk/2021 (नििाारण वषा / Assessment Year :2018-2019 & 2019-2020) Purusottama Estates & Vs Dcit, Cpc, Bangalore Resorts Private Limited, Sri Nahar, Grand Road, Puri-752001 Pan No. : Aabcp 8924 A & आयकर अपीऱ सं./Ita No.97 & 98/Ctk/2021 (नििाारण वषा / Assessment Year :2017-2018 & 2018-2019) Lalchnd Resort Private Limited, Vs Dcit, Cpc, Bangalore Plot No.6, Hotel New Marion, Janpath, Bhubaneswar Pan No. : Aaacl 7289 H & आयकर अपीऱ सं./Ita No.108 & 109/Ctk/2021 (नििाारण वषा / Assessment Year :2017-2018 & 2018-2019) Lalchnd Jewellers Private Limited Vs Dcit, Cpc, Bangalore 4Th Floor, Lalchand Market Complex, Station Square, Bhubaneswar Pan No. : Aaacl 2556 P & आयकर अपीऱ सं./Ita No.110, 111 & 112/Ctk/2021 (नििाारण वषा / Assessment Year :2017-2018 To 2019-2020) Lalchnd Gem & Jeweller Vs Dcit, Cpc, Bangalore Private Limited, 1, Lalchand Market Complex, Station Square, Bhubaneswar Pan No. : Aaccl 9025 H (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. यनधागररती की ओर से /Assessee By : Shri A.K.Sabat, Ca राजस्व की ओर से /Revenue By : Shri Manoj Kumar Goutam, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 10/03/2022 घोषणा की तारीख/Date Of Pronouncement : 06/04/2022

…riginated from case laws mentioned in ensuing paras that if two views are possible in interpreting the provisions of law in taxation, the one favourable to the assessee has to be preferred. 7.14 In Sun Export Corporation, Bombay vs Collector of Customs (1997) 6 SCC 564 it was observed that “even assuming that there are two views possible, it is well settled that one favourable to the assessee in matters of taxation has to be preferred.”. 7.14 In CIT vs. Gwalior Rayon Silk Mfg. Co. Ltd. (1992) 196 ITR 149 (SC) it has held that provisions for deduction, exemption and relief should be interpreted liberally, reasonab…

Purusottama Estates and Resorts Private Limited, Puri vs. DCIT, CPC, Bangalore

In the result, all the appeals of the assessees are allowed

Bench: Shri Chandra Mohan Garg, Jm & Shri Arun Khodpia, Am आयकर अपीऱ सं./Ita No.95 & 99/Ctk/2021 (नििाारण वषा / Assessment Year :2018-2019 & 2019-2020) Purusottama Estates & Vs Dcit, Cpc, Bangalore Resorts Private Limited, Sri Nahar, Grand Road, Puri-752001 Pan No. : Aabcp 8924 A & आयकर अपीऱ सं./Ita No.97 & 98/Ctk/2021 (नििाारण वषा / Assessment Year :2017-2018 & 2018-2019) Lalchnd Resort Private Limited, Vs Dcit, Cpc, Bangalore Plot No.6, Hotel New Marion, Janpath, Bhubaneswar Pan No. : Aaacl 7289 H & आयकर अपीऱ सं./Ita No.108 & 109/Ctk/2021 (नििाारण वषा / Assessment Year :2017-2018 & 2018-2019) Lalchnd Jewellers Private Limited Vs Dcit, Cpc, Bangalore 4Th Floor, Lalchand Market Complex, Station Square, Bhubaneswar Pan No. : Aaacl 2556 P & आयकर अपीऱ सं./Ita No.110, 111 & 112/Ctk/2021 (नििाारण वषा / Assessment Year :2017-2018 To 2019-2020) Lalchnd Gem & Jeweller Vs Dcit, Cpc, Bangalore Private Limited, 1, Lalchand Market Complex, Station Square, Bhubaneswar Pan No. : Aaccl 9025 H (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. यनधागररती की ओर से /Assessee By : Shri A.K.Sabat, Ca राजस्व की ओर से /Revenue By : Shri Manoj Kumar Goutam, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 10/03/2022 घोषणा की तारीख/Date Of Pronouncement : 06/04/2022

…riginated from case laws mentioned in ensuing paras that if two views are possible in interpreting the provisions of law in taxation, the one favourable to the assessee has to be preferred. 7.14 In Sun Export Corporation, Bombay vs Collector of Customs (1997) 6 SCC 564 it was observed that “even assuming that there are two views possible, it is well settled that one favourable to the assessee in matters of taxation has to be preferred.”. 7.14 In CIT vs. Gwalior Rayon Silk Mfg. Co. Ltd. (1992) 196 ITR 149 (SC) it has held that provisions for deduction, exemption and relief should be interpreted liberally, reasonab…

Chandan Security Service, Cuttack vs. DCIT, CPC

In the result, both appeals of the assessee are allowed

…riginated from case laws mentioned in ensuing paras that if two views are possible in interpreting the provisions of law in taxation, the one favourable to the assessee has to be preferred. 7.14 In Sun Export Corporation, Bombay vs Collector of Customs (1997) 6 SCC 564 it was observed that “even assuming that there are two views possible, it is well settled that one favourable to the assessee in matters of taxation has to be preferred.”. 7.14 In CIT vs. Gwalior Rayon Silk Mfg. Co. Ltd. (1992) 196 ITR 149 (SC) it has held that provisions for deduction, exemption and relief should be interpreted liberally, reasonab…

Chandan Security Service, Cuttack vs. DCIT(CPC), CPC

In the result, both appeals of the assessee are allowed

…riginated from case laws mentioned in ensuing paras that if two views are possible in interpreting the provisions of law in taxation, the one favourable to the assessee has to be preferred. 7.14 In Sun Export Corporation, Bombay vs Collector of Customs (1997) 6 SCC 564 it was observed that “even assuming that there are two views possible, it is well settled that one favourable to the assessee in matters of taxation has to be preferred.”. 7.14 In CIT vs. Gwalior Rayon Silk Mfg. Co. Ltd. (1992) 196 ITR 149 (SC) it has held that provisions for deduction, exemption and relief should be interpreted liberally, reasonab…

Lalchnd Gem and Jeweller Pvt. Ltd., Bhubaneswar vs. DCIT, CPC, Bangalore

In the result, all the appeals of the assessees are allowed

Bench: Shri Chandra Mohan Garg, Jm & Shri Arun Khodpia, Am आयकर अपीऱ सं./Ita No.95 & 99/Ctk/2021 (नििाारण वषा / Assessment Year :2018-2019 & 2019-2020) Purusottama Estates & Vs Dcit, Cpc, Bangalore Resorts Private Limited, Sri Nahar, Grand Road, Puri-752001 Pan No. : Aabcp 8924 A & आयकर अपीऱ सं./Ita No.97 & 98/Ctk/2021 (नििाारण वषा / Assessment Year :2017-2018 & 2018-2019) Lalchnd Resort Private Limited, Vs Dcit, Cpc, Bangalore Plot No.6, Hotel New Marion, Janpath, Bhubaneswar Pan No. : Aaacl 7289 H & आयकर अपीऱ सं./Ita No.108 & 109/Ctk/2021 (नििाारण वषा / Assessment Year :2017-2018 & 2018-2019) Lalchnd Jewellers Private Limited Vs Dcit, Cpc, Bangalore 4Th Floor, Lalchand Market Complex, Station Square, Bhubaneswar Pan No. : Aaacl 2556 P & आयकर अपीऱ सं./Ita No.110, 111 & 112/Ctk/2021 (नििाारण वषा / Assessment Year :2017-2018 To 2019-2020) Lalchnd Gem & Jeweller Vs Dcit, Cpc, Bangalore Private Limited, 1, Lalchand Market Complex, Station Square, Bhubaneswar Pan No. : Aaccl 9025 H (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. यनधागररती की ओर से /Assessee By : Shri A.K.Sabat, Ca राजस्व की ओर से /Revenue By : Shri Manoj Kumar Goutam, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 10/03/2022 घोषणा की तारीख/Date Of Pronouncement : 06/04/2022

…riginated from case laws mentioned in ensuing paras that if two views are possible in interpreting the provisions of law in taxation, the one favourable to the assessee has to be preferred. 7.14 In Sun Export Corporation, Bombay vs Collector of Customs (1997) 6 SCC 564 it was observed that “even assuming that there are two views possible, it is well settled that one favourable to the assessee in matters of taxation has to be preferred.”. 7.14 In CIT vs. Gwalior Rayon Silk Mfg. Co. Ltd. (1992) 196 ITR 149 (SC) it has held that provisions for deduction, exemption and relief should be interpreted liberally, reasonab…

Lalchnd Gem and Jeweller Pvt. Ltd., Bhubaneswar vs. DCIT, CPC, Bangalore

In the result, all the appeals of the assessees are allowed

Bench: Shri Chandra Mohan Garg, Jm & Shri Arun Khodpia, Am आयकर अपीऱ सं./Ita No.95 & 99/Ctk/2021 (नििाारण वषा / Assessment Year :2018-2019 & 2019-2020) Purusottama Estates & Vs Dcit, Cpc, Bangalore Resorts Private Limited, Sri Nahar, Grand Road, Puri-752001 Pan No. : Aabcp 8924 A & आयकर अपीऱ सं./Ita No.97 & 98/Ctk/2021 (नििाारण वषा / Assessment Year :2017-2018 & 2018-2019) Lalchnd Resort Private Limited, Vs Dcit, Cpc, Bangalore Plot No.6, Hotel New Marion, Janpath, Bhubaneswar Pan No. : Aaacl 7289 H & आयकर अपीऱ सं./Ita No.108 & 109/Ctk/2021 (नििाारण वषा / Assessment Year :2017-2018 & 2018-2019) Lalchnd Jewellers Private Limited Vs Dcit, Cpc, Bangalore 4Th Floor, Lalchand Market Complex, Station Square, Bhubaneswar Pan No. : Aaacl 2556 P & आयकर अपीऱ सं./Ita No.110, 111 & 112/Ctk/2021 (नििाारण वषा / Assessment Year :2017-2018 To 2019-2020) Lalchnd Gem & Jeweller Vs Dcit, Cpc, Bangalore Private Limited, 1, Lalchand Market Complex, Station Square, Bhubaneswar Pan No. : Aaccl 9025 H (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. यनधागररती की ओर से /Assessee By : Shri A.K.Sabat, Ca राजस्व की ओर से /Revenue By : Shri Manoj Kumar Goutam, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 10/03/2022 घोषणा की तारीख/Date Of Pronouncement : 06/04/2022

…riginated from case laws mentioned in ensuing paras that if two views are possible in interpreting the provisions of law in taxation, the one favourable to the assessee has to be preferred. 7.14 In Sun Export Corporation, Bombay vs Collector of Customs (1997) 6 SCC 564 it was observed that “even assuming that there are two views possible, it is well settled that one favourable to the assessee in matters of taxation has to be preferred.”. 7.14 In CIT vs. Gwalior Rayon Silk Mfg. Co. Ltd. (1992) 196 ITR 149 (SC) it has held that provisions for deduction, exemption and relief should be interpreted liberally, reasonab…