(a) J.K. Cotton Spinning & Weaving Mills Co. Ltd. v. ACJT

DCIT, NEW DELHI vs. M/S IRCON INTERNATIONAL LTD., NEW DELHI

In the result, all the three appeals of the assessee for A

Bench: : Shri Bhavnesh Saini & Shri O.P. Kant

…l/2005, 705/Del/2006 & 3804/Del/2008 AND ITA Nos. 104 2234/Del/2005 & 3805/Del/2008 (iii) Reliance has been placed on the decision of the following case laws: (a) J.K. Cotton Spinning & Weaving Mills Co. Ltd. Vs. ACJT, 60 ITD 99 (All); (b) SRF Ltd. Vs. ACIT, 47 ITD 504 (Del); (iv) The CIT(A) while passing the appellate order in the appellant’s own case for the AY 2000-01 has deleted the addition. 18.3 Taking into consideration that the provisions were amended from retrospective effect by the Finance Act, 2002 w.e.f. 01-04-2001, the claim allowable to the appellant as per the appellant’s own admission is only Rs.…

IRCON INTERNATIONAL LTD.,,NEW DELHI vs. DCIT, CIRCLE-11(1),, DELHI

In the result, all the three appeals of the assessee for A

Bench: : Shri Bhavnesh Saini & Shri O.P. Kant

…l/2005, 705/Del/2006 & 3804/Del/2008 AND ITA Nos. 104 2234/Del/2005 & 3805/Del/2008 (iii) Reliance has been placed on the decision of the following case laws: (a) J.K. Cotton Spinning & Weaving Mills Co. Ltd. Vs. ACJT, 60 ITD 99 (All); (b) SRF Ltd. Vs. ACIT, 47 ITD 504 (Del); (iv) The CIT(A) while passing the appellate order in the appellant’s own case for the AY 2000-01 has deleted the addition. 18.3 Taking into consideration that the provisions were amended from retrospective effect by the Finance Act, 2002 w.e.f. 01-04-2001, the claim allowable to the appellant as per the appellant’s own admission is only Rs.…

DCIT, CIRCLE-11(1) vs. IRCON INTERNATIONAL LTD.,,

In the result, all the three appeals of the assessee for A

Bench: : Shri Bhavnesh Saini & Shri O.P. Kant

…l/2005, 705/Del/2006 & 3804/Del/2008 AND ITA Nos. 104 2234/Del/2005 & 3805/Del/2008 (iii) Reliance has been placed on the decision of the following case laws: (a) J.K. Cotton Spinning & Weaving Mills Co. Ltd. Vs. ACJT, 60 ITD 99 (All); (b) SRF Ltd. Vs. ACIT, 47 ITD 504 (Del); (iv) The CIT(A) while passing the appellate order in the appellant’s own case for the AY 2000-01 has deleted the addition. 18.3 Taking into consideration that the provisions were amended from retrospective effect by the Finance Act, 2002 w.e.f. 01-04-2001, the claim allowable to the appellant as per the appellant’s own admission is only Rs.…

IRCON INTERNATIONAL LIMITED,NEW DELHI vs. ACIT, NEW DELHI

In the result, all the three appeals of the assessee for A

Bench: : Shri Bhavnesh Saini & Shri O.P. Kant

…l/2005, 705/Del/2006 & 3804/Del/2008 AND ITA Nos. 104 2234/Del/2005 & 3805/Del/2008 (iii) Reliance has been placed on the decision of the following case laws: (a) J.K. Cotton Spinning & Weaving Mills Co. Ltd. Vs. ACJT, 60 ITD 99 (All); (b) SRF Ltd. Vs. ACIT, 47 ITD 504 (Del); (iv) The CIT(A) while passing the appellate order in the appellant’s own case for the AY 2000-01 has deleted the addition. 18.3 Taking into consideration that the provisions were amended from retrospective effect by the Finance Act, 2002 w.e.f. 01-04-2001, the claim allowable to the appellant as per the appellant’s own admission is only Rs.…

IRCON INTERNATIONAL LTD. vs. ADDL. CIT, RANGE-11,,

In the result, all the three appeals of the assessee for A

Bench: : Shri Bhavnesh Saini & Shri O.P. Kant

…l/2005, 705/Del/2006 & 3804/Del/2008 AND ITA Nos. 104 2234/Del/2005 & 3805/Del/2008 (iii) Reliance has been placed on the decision of the following case laws: (a) J.K. Cotton Spinning & Weaving Mills Co. Ltd. Vs. ACJT, 60 ITD 99 (All); (b) SRF Ltd. Vs. ACIT, 47 ITD 504 (Del); (iv) The CIT(A) while passing the appellate order in the appellant’s own case for the AY 2000-01 has deleted the addition. 18.3 Taking into consideration that the provisions were amended from retrospective effect by the Finance Act, 2002 w.e.f. 01-04-2001, the claim allowable to the appellant as per the appellant’s own admission is only Rs.…

CIT vs. FEDERAL-LOGUL GOETZE (INDIA) LTD

Bench: HON'BLE MR. JUSTICE SANJIV KHANNA,HON'BLE MR. JUSTICE SANJEEV SACHDEVA

…s created on or after 1^' day of April, 1997 but ending before the 1^' day of April, 2001, othei-wise than by debit to the profit and loss account. Reliance was placed upon the decision of the tribunal in the case of SRFLimited versus ACIT, reported in (1993) 47 ITD 504. 13. The Commissioner rejected the said contentions observing that clause (i) was applicable only when the amounts were withdrawn from any reserve which had been credited to profit and loss account. Once sub-clause (i) was not applicable, book profits calculated in accordance with the provisions of the Companies Act cannot be disturbed or recalcul…

CIT vs. FEDERAL MOGUL GOETZE INDIA LTD

Bench: HON'BLE MR. JUSTICE SANJIV KHANNA,HON'BLE MR. JUSTICE SANJEEV SACHDEVA

…s created on or after 1^' day of April, 1997 but ending before the 1^' day of April, 2001, othei-wise than by debit to the profit and loss account. Reliance was placed upon the decision of the tribunal in the case of SRFLimited versus ACIT, reported in (1993) 47 ITD 504. 13. The Commissioner rejected the said contentions observing that clause (i) was applicable only when the amounts were withdrawn from any reserve which had been credited to profit and loss account. Once sub-clause (i) was not applicable, book profits calculated in accordance with the provisions of the Companies Act cannot be disturbed or recalcul…

CIT vs. GOETZE INDIA LTD

Bench: HON'BLE MR. JUSTICE SANJIV KHANNA,HON'BLE MR. JUSTICE SANJEEV SACHDEVA

…s created on or after 1^' day of April, 1997 but ending before the 1^' day of April, 2001, othei-wise than by debit to the profit and loss account. Reliance was placed upon the decision of the tribunal in the case of SRFLimited versus ACIT, reported in (1993) 47 ITD 504. 13. The Commissioner rejected the said contentions observing that clause (i) was applicable only when the amounts were withdrawn from any reserve which had been credited to profit and loss account. Once sub-clause (i) was not applicable, book profits calculated in accordance with the provisions of the Companies Act cannot be disturbed or recalcul…

CIT vs. GOETZE (INDIA) LTD

Bench: HON'BLE MR. JUSTICE SANJIV KHANNA,HON'BLE MR. JUSTICE SANJEEV SACHDEVA

…eated on or after 1st day of April, 1997 but ending before the 1st day of April, 2001, otherwise than by debit to the profit and loss account. Reliance was placed upon the decision of the tribunal in the case of SRF Limited versus ACIT, reported in (1993) 47 ITD 504. 13. The Commissioner rejected the said contentions observing that clause (i) was applicable only when the amounts were withdrawn from any reserve which had been credited to profit and loss account. Once sub-clause (i) was not applicable, book profits calculated in accordance with the provisions of the Companies Act cannot be disturbed or…

CIT vs. FEDERAL MOGUL GOETZE INDIA LTD

…s created on or after 1^' day of April, 1997 but ending before the 1^' day of April, 2001, othei-wise than by debit to the profit and loss account. Reliance was placed upon the decision of the tribunal in the case of SRFLimited versus ACIT, reported in (1993) 47 ITD 504. 13. The Commissioner rejected the said contentions observing that clause (i) was applicable only when the amounts were withdrawn from any reserve which had been credited to profit and loss account. Once sub-clause (i) was not applicable, book profits calculated in accordance with the provisions of the Companies Act cannot be disturbed or recalcul…

CIT vs. FEDERAL-LOGUL GOETZE (INDIA) LTD

…s created on or after 1^' day of April, 1997 but ending before the 1^' day of April, 2001, othei-wise than by debit to the profit and loss account. Reliance was placed upon the decision of the tribunal in the case of SRFLimited versus ACIT, reported in (1993) 47 ITD 504. 13. The Commissioner rejected the said contentions observing that clause (i) was applicable only when the amounts were withdrawn from any reserve which had been credited to profit and loss account. Once sub-clause (i) was not applicable, book profits calculated in accordance with the provisions of the Companies Act cannot be disturbed or recalcul…

CIT vs. GOETZE (INDIA) LTD

…eated on or after 1st day of April, 1997 but ending before the 1st day of April, 2001, otherwise than by debit to the profit and loss account. Reliance was placed upon the decision of the tribunal in the case of SRF Limited versus ACIT, reported in (1993) 47 ITD 504. 13. The Commissioner rejected the said contentions observing that clause (i) was applicable only when the amounts were withdrawn from any reserve which had been credited to profit and loss account. Once sub-clause (i) was not applicable, book profits calculated in accordance with the provisions of the Companies Act cannot be disturbed or…