37 SOT 322 (Mumbai) 132 TTJ 442 2) Punjab Con-Cast Ltd. v. ACIT

49 ITD 430Income Tax Appellate Tribunal1994#7937 most cited

What is 37 SOT 322 (Mumbai) 132 TTJ 442 2) Punjab Con-Cast Ltd. v. ACIT authority for?

The Assessing Officer (AO) is not empowered to reallocate expenses under Section 80IA(8) of the Income-tax Act when assessing eligible units. The AO's addition of GP without proper application of mind and comparison with excise law is questioned.

14

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2017 to 2024.

Also referred to as

Punjab Con-Cast Ltd. v. ACIT · Section 80IA(8) · reallocation of expenses · eligible unit assessment · Assessing Officer powers · Goods transferred to MPEZ unit · GP ratio comparison · FMV

Sections most often in play

Section 10AASection 195Section 234BSection 234CSection 271(1)(c)Section 37(1)Section 80IA(8)Section 90

Issues it is cited on

section 80ia(8)section 9(1)(vii)(b)section 195(2)fees for included servicessection 90(2)business connectionsection 9(1)(vii)section 10aainterest u/s 234bsection 10asection 80iafees for technical services

Judgments citing 37 SOT 322 (Mumbai) 132 TTJ 442 2) Punjab Con-Cast Ltd. v. ACIT

Avtec Ltd., New Delhi vs. DCIT (Ltu), Circle-1, New Delhi

In the result, the appeal of the assessee is allowed

ITA 7366/DEL/2019[2016-17]Status: DisposedITAT Delhi29 Nov 2024AY 2016-17

Bench: Shri Vikas Awasthy & Shri Naveen Chandra

For Appellant: Shri Salil Kapoor, Sr. AdvFor Respondent: Shri Vipul Kashypa, Sr. DR
Section 10ASection 115JSection 234BSection 80I

…h prescribes about the allocation of expenses. Further, the ld AR argued that the eligible unit need to be independently assessed. It relied on the decision of 1) DCW Ltd.vs. ADIT [2010] 37 SOT 322 (Mumbai) 132 TTJ 442 2) Punjab Con-Cast Ltd vs. ACIT (1994) 49 ITD 430 (Chandigarh-Tri) (Mumbai) 9. With respect to Goods transferred to 'MPEZ' unit, the ld AR argued that the AO has compared the profit rate with the Excise law. It was submitted that the AO without application of mind, has made the additions of GP @ 12.30%-. With regard to Section 10AA (9) vis a vis 80 IA (8), it is stated that theAO is not empowe…

Avtec Ltd., New Delhi vs. ACIT (Ltu), Circle-1, New Delhi

In the result, the appeal of the assessee is allowed

ITA 1008/DEL/2019[2012-13]Status: DisposedITAT Delhi29 Nov 2024AY 2012-13

Bench: Shri Vikas Awasthy & Shri Naveen Chandra

For Appellant: Shri Salil Kapoor, Sr. AdvFor Respondent: Shri Vipul Kashypa, Sr. DR
Section 10ASection 115JSection 234BSection 80I

…h prescribes about the allocation of expenses. Further, the ld AR argued that the eligible unit need to be independently assessed. It relied on the decision of 1) DCW Ltd.vs. ADIT [2010] 37 SOT 322 (Mumbai) 132 TTJ 442 2) Punjab Con-Cast Ltd vs. ACIT (1994) 49 ITD 430 (Chandigarh-Tri) (Mumbai) 9. With respect to Goods transferred to 'MPEZ' unit, the ld AR argued that the AO has compared the profit rate with the Excise law. It was submitted that the AO without application of mind, has made the additions of GP @ 12.30%-. With regard to Section 10AA (9) vis a vis 80 IA (8), it is stated that theAO is not empowe…

Avtec Ltd., New Delhi vs. DCIT (Ltu), Circle-1, New Delhi

In the result, the appeal of the assessee is allowed

ITA 8081/DEL/2018[2013-14]Status: DisposedITAT Delhi29 Nov 2024AY 2013-14

Bench: Shri Vikas Awasthy & Shri Naveen Chandra

For Appellant: Shri Salil Kapoor, Sr. AdvFor Respondent: Shri Vipul Kashypa, Sr. DR
Section 10ASection 115JSection 234BSection 80I

…h prescribes about the allocation of expenses. Further, the ld AR argued that the eligible unit need to be independently assessed. It relied on the decision of 1) DCW Ltd.vs. ADIT [2010] 37 SOT 322 (Mumbai) 132 TTJ 442 2) Punjab Con-Cast Ltd vs. ACIT (1994) 49 ITD 430 (Chandigarh-Tri) (Mumbai) 9. With respect to Goods transferred to 'MPEZ' unit, the ld AR argued that the AO has compared the profit rate with the Excise law. It was submitted that the AO without application of mind, has made the additions of GP @ 12.30%-. With regard to Section 10AA (9) vis a vis 80 IA (8), it is stated that theAO is not empowe…

Avtec Ltd., New Delhi vs. ACIT (Ltu), Circle-1, New Delhi

In the result, the appeal of the assessee is allowed

ITA 4716/DEL/2018[2015-16]Status: DisposedITAT Delhi29 Nov 2024AY 2015-16

Bench: Shri Vikas Awasthy & Shri Naveen Chandra

For Appellant: Shri Salil Kapoor, Sr. AdvFor Respondent: Shri Vipul Kashypa, Sr. DR
Section 10ASection 115JSection 234BSection 80I

…h prescribes about the allocation of expenses. Further, the ld AR argued that the eligible unit need to be independently assessed. It relied on the decision of 1) DCW Ltd.vs. ADIT [2010] 37 SOT 322 (Mumbai) 132 TTJ 442 2) Punjab Con-Cast Ltd vs. ACIT (1994) 49 ITD 430 (Chandigarh-Tri) (Mumbai) 9. With respect to Goods transferred to 'MPEZ' unit, the ld AR argued that the AO has compared the profit rate with the Excise law. It was submitted that the AO without application of mind, has made the additions of GP @ 12.30%-. With regard to Section 10AA (9) vis a vis 80 IA (8), it is stated that theAO is not empowe…

Avtec Ltd., New Delhi vs. ACIT (Ltu), Circle-1, New Delhi

In the result, the appeal of the assessee is allowed

ITA 2893/DEL/2018[2014-15]Status: DisposedITAT Delhi29 Nov 2024AY 2014-15

Bench: Shri Vikas Awasthy & Shri Naveen Chandra

For Appellant: Shri Salil Kapoor, Sr. AdvFor Respondent: Shri Vipul Kashypa, Sr. DR
Section 10ASection 115JSection 234BSection 80I

…h prescribes about the allocation of expenses. Further, the ld AR argued that the eligible unit need to be independently assessed. It relied on the decision of 1) DCW Ltd.vs. ADIT [2010] 37 SOT 322 (Mumbai) 132 TTJ 442 2) Punjab Con-Cast Ltd vs. ACIT (1994) 49 ITD 430 (Chandigarh-Tri) (Mumbai) 9. With respect to Goods transferred to 'MPEZ' unit, the ld AR argued that the AO has compared the profit rate with the Excise law. It was submitted that the AO without application of mind, has made the additions of GP @ 12.30%-. With regard to Section 10AA (9) vis a vis 80 IA (8), it is stated that theAO is not empowe…

Avtec Ltd., New Delhi vs. DCIT (Ltu), New Delhi

In the result, the appeal of the assessee is allowed

ITA 6332/DEL/2016[2012-13]Status: DisposedITAT Delhi29 Nov 2024AY 2012-13

Bench: Shri Vikas Awasthy & Shri Naveen Chandra

For Appellant: Shri Salil Kapoor, Sr. AdvFor Respondent: Shri Vipul Kashypa, Sr. DR
Section 10ASection 115JSection 234BSection 80I

…h prescribes about the allocation of expenses. Further, the ld AR argued that the eligible unit need to be independently assessed. It relied on the decision of 1) DCW Ltd.vs. ADIT [2010] 37 SOT 322 (Mumbai) 132 TTJ 442 2) Punjab Con-Cast Ltd vs. ACIT (1994) 49 ITD 430 (Chandigarh-Tri) (Mumbai) 9. With respect to Goods transferred to 'MPEZ' unit, the ld AR argued that the AO has compared the profit rate with the Excise law. It was submitted that the AO without application of mind, has made the additions of GP @ 12.30%-. With regard to Section 10AA (9) vis a vis 80 IA (8), it is stated that theAO is not empowe…

M/S. Avtec Ltd., New Delhi vs. DCIT (Ltu), New Delhi

In the result, the appeal of the assessee is allowed

ITA 1009/DEL/2015[2011-12]Status: DisposedITAT Delhi29 Nov 2024AY 2011-12

Bench: Shri Vikas Awasthy & Shri Naveen Chandra

For Appellant: Shri Salil Kapoor, Sr. AdvFor Respondent: Shri Vipul Kashypa, Sr. DR
Section 10ASection 115JSection 234BSection 80I

…h prescribes about the allocation of expenses. Further, the ld AR argued that the eligible unit need to be independently assessed. It relied on the decision of 1) DCW Ltd.vs. ADIT [2010] 37 SOT 322 (Mumbai) 132 TTJ 442 2) Punjab Con-Cast Ltd vs. ACIT (1994) 49 ITD 430 (Chandigarh-Tri) (Mumbai) 9. With respect to Goods transferred to 'MPEZ' unit, the ld AR argued that the AO has compared the profit rate with the Excise law. It was submitted that the AO without application of mind, has made the additions of GP @ 12.30%-. With regard to Section 10AA (9) vis a vis 80 IA (8), it is stated that theAO is not empowe…

Turbo Energy Limited, Chennai vs. DCIT, Chennai

In the result, the appeals of the assessee are partly allowed and the

ITA 317/CHNY/2014[2009-2010]Status: DisposedITAT Chennai03 May 2017AY 2009-2010

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singhआयकर अपील सं./Ita No.351/Mds/2013 & Ita Nos.316 & 317/Mds/2014 िनधा"रण वष" /Assessment Year: 2007-08 & Ays 2008-09 & 2009-10

Section 10BSection 10B(8)Section 80I

…ponents. The Ld.CIT(A) also stated that the assessee’s case is squarely covered by the decision of jurisdictional High Court in the case of Brakes India Ltd., in Tax Appeal Nos.737 to 739 of 2005 dated 17.10.2012 and also Punjab Con Cast Steel Vs. CIT & ors. 49 ITD 430 Chandigarh. During the appeal, the Ld.DR vehemently argued stating that non- ITA No.351/Mds/2013 & ITA Nos.316 & 317/Mds/2014 ITA Nos.203, 204 & 205/Mds/2014 :- 14 -: allocation of expenditure to 10B Units was only a device to reduce the taxable income but no evidence has been brought on record to controvert the submissions of the assessee or…

Turbo Energy Limited, Chennai vs. DCIT, Chennai

In the result, the appeals of the assessee are partly allowed and the

ITA 316/CHNY/2014[2008-2009]Status: DisposedITAT Chennai03 May 2017AY 2008-2009

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singhआयकर अपील सं./Ita No.351/Mds/2013 & Ita Nos.316 & 317/Mds/2014 िनधा"रण वष" /Assessment Year: 2007-08 & Ays 2008-09 & 2009-10

Section 10BSection 10B(8)Section 80I

…ponents. The Ld.CIT(A) also stated that the assessee’s case is squarely covered by the decision of jurisdictional High Court in the case of Brakes India Ltd., in Tax Appeal Nos.737 to 739 of 2005 dated 17.10.2012 and also Punjab Con Cast Steel Vs. CIT & ors. 49 ITD 430 Chandigarh. During the appeal, the Ld.DR vehemently argued stating that non- ITA No.351/Mds/2013 & ITA Nos.316 & 317/Mds/2014 ITA Nos.203, 204 & 205/Mds/2014 :- 14 -: allocation of expenditure to 10B Units was only a device to reduce the taxable income but no evidence has been brought on record to controvert the submissions of the assessee or…

DCIT, Chennai vs. M/S. Turbo Energey Limited, Chennai

In the result, the appeals of the assessee are partly allowed and the

ITA 205/CHNY/2014[2009-10]Status: DisposedITAT Chennai03 May 2017AY 2009-10

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singhआयकर अपील सं./Ita No.351/Mds/2013 & Ita Nos.316 & 317/Mds/2014 िनधा"रण वष" /Assessment Year: 2007-08 & Ays 2008-09 & 2009-10

Section 10BSection 10B(8)Section 80I

…ponents. The Ld.CIT(A) also stated that the assessee’s case is squarely covered by the decision of jurisdictional High Court in the case of Brakes India Ltd., in Tax Appeal Nos.737 to 739 of 2005 dated 17.10.2012 and also Punjab Con Cast Steel Vs. CIT & ors. 49 ITD 430 Chandigarh. During the appeal, the Ld.DR vehemently argued stating that non- ITA No.351/Mds/2013 & ITA Nos.316 & 317/Mds/2014 ITA Nos.203, 204 & 205/Mds/2014 :- 14 -: allocation of expenditure to 10B Units was only a device to reduce the taxable income but no evidence has been brought on record to controvert the submissions of the assessee or…

DCIT, Chennai vs. M/S. Turbo Energey Limited, Chennai

In the result, the appeals of the assessee are partly allowed and the

ITA 204/CHNY/2014[2008-09]Status: DisposedITAT Chennai03 May 2017AY 2008-09

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singhआयकर अपील सं./Ita No.351/Mds/2013 & Ita Nos.316 & 317/Mds/2014 िनधा"रण वष" /Assessment Year: 2007-08 & Ays 2008-09 & 2009-10

Section 10BSection 10B(8)Section 80I

…ponents. The Ld.CIT(A) also stated that the assessee’s case is squarely covered by the decision of jurisdictional High Court in the case of Brakes India Ltd., in Tax Appeal Nos.737 to 739 of 2005 dated 17.10.2012 and also Punjab Con Cast Steel Vs. CIT & ors. 49 ITD 430 Chandigarh. During the appeal, the Ld.DR vehemently argued stating that non- ITA No.351/Mds/2013 & ITA Nos.316 & 317/Mds/2014 ITA Nos.203, 204 & 205/Mds/2014 :- 14 -: allocation of expenditure to 10B Units was only a device to reduce the taxable income but no evidence has been brought on record to controvert the submissions of the assessee or…

DCIT, Chennai vs. M/S. Turbo Energey Limited, Chennai

In the result, the appeals of the assessee are partly allowed and the

ITA 203/CHNY/2014[2006-07]Status: DisposedITAT Chennai03 May 2017AY 2006-07

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singhआयकर अपील सं./Ita No.351/Mds/2013 & Ita Nos.316 & 317/Mds/2014 िनधा"रण वष" /Assessment Year: 2007-08 & Ays 2008-09 & 2009-10

Section 10BSection 10B(8)Section 80I

…ponents. The Ld.CIT(A) also stated that the assessee’s case is squarely covered by the decision of jurisdictional High Court in the case of Brakes India Ltd., in Tax Appeal Nos.737 to 739 of 2005 dated 17.10.2012 and also Punjab Con Cast Steel Vs. CIT & ors. 49 ITD 430 Chandigarh. During the appeal, the Ld.DR vehemently argued stating that non- ITA No.351/Mds/2013 & ITA Nos.316 & 317/Mds/2014 ITA Nos.203, 204 & 205/Mds/2014 :- 14 -: allocation of expenditure to 10B Units was only a device to reduce the taxable income but no evidence has been brought on record to controvert the submissions of the assessee or…

DCIT, Chennai vs. Turbo Energy Limited, Chennai

In the result, the appeals of the assessee are partly allowed and the

ITA 629/CHNY/2013[2007-08]Status: DisposedITAT Chennai03 May 2017AY 2007-08

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singhआयकर अपील सं./Ita No.351/Mds/2013 & Ita Nos.316 & 317/Mds/2014 िनधा"रण वष" /Assessment Year: 2007-08 & Ays 2008-09 & 2009-10

Section 10BSection 10B(8)Section 80I

…ponents. The Ld.CIT(A) also stated that the assessee’s case is squarely covered by the decision of jurisdictional High Court in the case of Brakes India Ltd., in Tax Appeal Nos.737 to 739 of 2005 dated 17.10.2012 and also Punjab Con Cast Steel Vs. CIT & ors. 49 ITD 430 Chandigarh. During the appeal, the Ld.DR vehemently argued stating that non- ITA No.351/Mds/2013 & ITA Nos.316 & 317/Mds/2014 ITA Nos.203, 204 & 205/Mds/2014 :- 14 -: allocation of expenditure to 10B Units was only a device to reduce the taxable income but no evidence has been brought on record to controvert the submissions of the assessee or…

Turbo Energy Limited, Chennai vs. DCIT, Chennai

In the result, the appeals of the assessee are partly allowed and the

ITA 351/CHNY/2013[2007-2008]Status: DisposedITAT Chennai03 May 2017AY 2007-2008

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singhआयकर अपील सं./Ita No.351/Mds/2013 & Ita Nos.316 & 317/Mds/2014 िनधा"रण वष" /Assessment Year: 2007-08 & Ays 2008-09 & 2009-10

Section 10BSection 10B(8)Section 80I

…ponents. The Ld.CIT(A) also stated that the assessee’s case is squarely covered by the decision of jurisdictional High Court in the case of Brakes India Ltd., in Tax Appeal Nos.737 to 739 of 2005 dated 17.10.2012 and also Punjab Con Cast Steel Vs. CIT & ors. 49 ITD 430 Chandigarh. During the appeal, the Ld.DR vehemently argued stating that non- ITA No.351/Mds/2013 & ITA Nos.316 & 317/Mds/2014 ITA Nos.203, 204 & 205/Mds/2014 :- 14 -: allocation of expenditure to 10B Units was only a device to reduce the taxable income but no evidence has been brought on record to controvert the submissions of the assessee or…

37 SOT 322 (Mumbai) 132 TTJ 442 2) Punjab Con-Cast Ltd. v. ACIT (49 ITD 430) — Cited in 14 Judgments | BharatTax