Abad Enterprises v. CIT

253 ITR 553High Court2002#12503 most cited
8

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2007 to 2020.

Judgments citing Abad Enterprises v. CIT

The Asstt. Commissioner of Income Tax, Vapi Circle, Vapi vs. M/S. Mitsu Limited, Daman

In the result, the appeal of the Revenue is dismissed

ITA 3510/AHD/2016[2000-01]Status: DisposedITAT Surat04 May 2020AY 2000-01

Bench: Shri Sandip Gosain & Shri O. P. Meenav. ""यथ"/Respondent आ.अ.सं././././I "नधा"र अपीलाथ" Appellant S .T.A No. ण N वष"/A Y: 1 1671/Ah 2002- M/S. Mitsu Limited, V. Assistant D/2006 03 304/2, Iind Phase, Commissioner Of Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 2 1371/Ah 2002- Assistant V. M/S. Mitsu Limited, D/2006 03 Commissioner Of 304/2, Iind Phase, Income Tax-Vapi Gidc, Vapi 396195 Circle, Vapi Pan: Aaccm 2764 Q Co.No.1 2002- M/S. Mitsu Limited, V. Assistant 3 84/Ahd/ 03 304/2, Iind Phase, Commissioner Of 2006 Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 4 1672/Ah 2003- M/S. Mitsu Limited, V. Assistant D/2006 04 304/2, Iind Phase, Commissioner Of Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 5 1764/Ah 2003- Assistant V. M/S. Mitsu Limited, D/2006 04 Commissioner Of 304/2, Iind Phase, Income Tax-Vapi Gidc, Vapi 396195 Circle, Vapi Pan: Aaccm 2764 Q 6 1000/Ah 2002- M/S. Mitsu Limited, V. Assistant D/2016 03 304/2, Iind Phase, Commissioner Of Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 7 3510/Ah 2000- Assistant V. M/S. Mitsu Limited, D/2016 01 Commissioner Of Page 2 Of 83 Mitsu Ltd. V. Acit- Vapi/I.T.A. No.1671-1371,Co-184,1672-1764,1614 &1000/Ahd/2006/A.Y.02-03,03-04,06-07.02-03 Income Tax-Vapi 304/2, Iind Phase, Circle, Vapi Gidc, Vapi 396195 Pan: Aaccm 2764 Q

Section 143

…purposes of s.*) S. 80HHC. Reliance was placed on the judgments in K. Ravindranathan Nair (supra) Punit Commercial Ltd. (supra) and the judgments of the Kerala High Court in Abad Enterprises v. CIT [2002] 253 ITR 319/120 Taxman 503, CIT v. Jose Thomas [2002] 253 ITR 553/121 Taxman 210 (Ker.) and CIT v. Abad Fisheries [2002] 258 ITR 641/125 Taxman 616 Page 24 of 83 Mitsu Ltd. v. ACIT- Vapi/I.T.A. No.1671-1371,CO-184,1672-1764,1614 &1000/AHD/2006/A.Y.02-03,03-04,06-07.02-03 (Ker.) as well as Urban Stanislaus Co. v. CIT [2003] 263 ITR 10/130 Taxman 244 (Ker.). 30. In Liberty India (supra), the Supreme Court, deali…

M/S. Mitsu Private Limited, Vapi vs. The ACIT, Vapi Circle, Vapi

In the result, the appeal of the Revenue is dismissed

ITA 1000/AHD/2016[2002-03]Status: DisposedITAT Surat04 May 2020AY 2002-03

Bench: Shri Sandip Gosain & Shri O. P. Meenav. ""यथ"/Respondent आ.अ.सं././././I "नधा"र अपीलाथ" Appellant S .T.A No. ण N वष"/A Y: 1 1671/Ah 2002- M/S. Mitsu Limited, V. Assistant D/2006 03 304/2, Iind Phase, Commissioner Of Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 2 1371/Ah 2002- Assistant V. M/S. Mitsu Limited, D/2006 03 Commissioner Of 304/2, Iind Phase, Income Tax-Vapi Gidc, Vapi 396195 Circle, Vapi Pan: Aaccm 2764 Q Co.No.1 2002- M/S. Mitsu Limited, V. Assistant 3 84/Ahd/ 03 304/2, Iind Phase, Commissioner Of 2006 Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 4 1672/Ah 2003- M/S. Mitsu Limited, V. Assistant D/2006 04 304/2, Iind Phase, Commissioner Of Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 5 1764/Ah 2003- Assistant V. M/S. Mitsu Limited, D/2006 04 Commissioner Of 304/2, Iind Phase, Income Tax-Vapi Gidc, Vapi 396195 Circle, Vapi Pan: Aaccm 2764 Q 6 1000/Ah 2002- M/S. Mitsu Limited, V. Assistant D/2016 03 304/2, Iind Phase, Commissioner Of Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 7 3510/Ah 2000- Assistant V. M/S. Mitsu Limited, D/2016 01 Commissioner Of Page 2 Of 83 Mitsu Ltd. V. Acit- Vapi/I.T.A. No.1671-1371,Co-184,1672-1764,1614 &1000/Ahd/2006/A.Y.02-03,03-04,06-07.02-03 Income Tax-Vapi 304/2, Iind Phase, Circle, Vapi Gidc, Vapi 396195 Pan: Aaccm 2764 Q

Section 143

…purposes of s.*) S. 80HHC. Reliance was placed on the judgments in K. Ravindranathan Nair (supra) Punit Commercial Ltd. (supra) and the judgments of the Kerala High Court in Abad Enterprises v. CIT [2002] 253 ITR 319/120 Taxman 503, CIT v. Jose Thomas [2002] 253 ITR 553/121 Taxman 210 (Ker.) and CIT v. Abad Fisheries [2002] 258 ITR 641/125 Taxman 616 Page 24 of 83 Mitsu Ltd. v. ACIT- Vapi/I.T.A. No.1671-1371,CO-184,1672-1764,1614 &1000/AHD/2006/A.Y.02-03,03-04,06-07.02-03 (Ker.) as well as Urban Stanislaus Co. v. CIT [2003] 263 ITR 10/130 Taxman 244 (Ker.). 30. In Liberty India (supra), the Supreme Court, deali…

ACIT, Moradabad vs. M/S. Jubilant Organosyes Ltd., Uttar Pradesh

The appeal is dismissed

ITA 4975/DEL/2012[2008-09]Status: DisposedITAT Delhi12 Mar 2019AY 2008-09

Bench: Smt Beena A. Pillai & Shri Prashant Maharishi

For Appellant: Shri R.M. Gupta, AdvFor Respondent: Shri J. K. Mishra, CIT DR
Section 115JSection 43(1)

…est income under head „Income from Other Sources. 5. That Ld. CIT (A) has erred in law and on facts of case in directing to allow deduction u/s 80HHC on interest Income while Kerala High Court did not allow such deduction in decisions reported in 243 ITR 192, 253 ITR 553 and 262 ITR 664 and SLP filed against these order was dismissed as reported in 263 ITR 3(St-l). 6. That Ld. CIT(A) has erred in law and on facts of case in directing to allow deduction u/s 80HHC, 80HH and 80I on interest income as interest income is neither derived from Export business nor from Industrial under taking as per ratio of Hon‟ble Apex…

ACIT, Moradabad vs. M/S Jubliant Organosys Ltd., Uttar Pradesh

The appeal is dismissed

ITA 2596/DEL/2011[2007-08]Status: DisposedITAT Delhi12 Mar 2019AY 2007-08

Bench: Smt Beena A. Pillai & Shri Prashant Maharishi

For Appellant: Shri R.M. Gupta, AdvFor Respondent: Shri J. K. Mishra, CIT DR
Section 115JSection 43(1)

…est income under head „Income from Other Sources. 5. That Ld. CIT (A) has erred in law and on facts of case in directing to allow deduction u/s 80HHC on interest Income while Kerala High Court did not allow such deduction in decisions reported in 243 ITR 192, 253 ITR 553 and 262 ITR 664 and SLP filed against these order was dismissed as reported in 263 ITR 3(St-l). 6. That Ld. CIT(A) has erred in law and on facts of case in directing to allow deduction u/s 80HHC, 80HH and 80I on interest income as interest income is neither derived from Export business nor from Industrial under taking as per ratio of Hon‟ble Apex…

Jubilant Organosys Ltd., Noida vs. Addl. CIT, Moradabad

The appeal is dismissed

ITA 2497/DEL/2011[2007-08]Status: DisposedITAT Delhi12 Mar 2019AY 2007-08

Bench: Smt Beena A. Pillai & Shri Prashant Maharishi

For Appellant: Shri R.M. Gupta, AdvFor Respondent: Shri J. K. Mishra, CIT DR
Section 115JSection 43(1)

…est income under head „Income from Other Sources. 5. That Ld. CIT (A) has erred in law and on facts of case in directing to allow deduction u/s 80HHC on interest Income while Kerala High Court did not allow such deduction in decisions reported in 243 ITR 192, 253 ITR 553 and 262 ITR 664 and SLP filed against these order was dismissed as reported in 263 ITR 3(St-l). 6. That Ld. CIT(A) has erred in law and on facts of case in directing to allow deduction u/s 80HHC, 80HH and 80I on interest income as interest income is neither derived from Export business nor from Industrial under taking as per ratio of Hon‟ble Apex…

The DCIT, Circle-10, Ahmedabad vs. Shri Devraj R.Agarwal, Ahmedabad

In the result, the appeal of the revenue is dismissed

ITA 954/AHD/2013[2001-02]Status: DisposedITAT Ahmedabad11 Oct 2017AY 2001-02

Bench: Passing The Penalty Order.

For Appellant: NoneFor Respondent: Shri Prasoon Kabra, Sr. D.R
Section 143(2)Section 271(1)(c)Section 80H

…ing their own decision in appellants case for A Y 2000-01. While doing so, hon'ble tribunal is of the view that decision of Special Bench in the case of International Research Laboratories Ltd and of hon'ble Kerala High Court in the case of CIT vs Jose Thomas 253 ITR 553 is applicable. Thus, it is clear that the issue under consideration being the calculation of admissible deduction u/s. 80HHC is a debatable issue on which hon'ble courts / appellate tribunals are holding divergent opinions. Thus, seen the claim of the appellant, falls in the category of a debatable issue and cannot be equated with a claim being m…

Commissioner of Income Tax vs. Jaypee Dsc Ventures Ltd

Accordingly, the same stands dismissed

ITA/357/2010HC Delhi11 Mar 2011

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

Section 143(3)Section 260A

…ity, after referring to the clauses in the agreement and the decisions rendered in SISCO v. CIT, 240 ITR 24 (Madras), Philips Carbon Block Ltd. v. CIT, 130 ITR 205 (Cal), Additional CIT v. Madras Fertilizer Ltd., 120 ITR 1399 (Madras), CIT v. Jose Thomas, 253 ITR 553 (Kerala), CIT v. Parekh Brothers, (2002) 258 ITR 43 (Kerala), Rani Paliwal v. CIT, 268 ITR 221 (P&H) and Pandiyan Chemicals v. CIT, 262 ITR 268 (SC), came to hold that the appellant had raised the margin money from its own funds available with other organizations and deposited with its bankers with a view to obtain the performance guarantee…

Commissioner of Income Tax-V N vs. Damanjit Singh

ITA/166/2000HC Delhi12 Jan 2007

…does not qualify as business income and therefore, will go to reduce the deductible amount for the purposes of that Section: (i) Nanji Topanbhai v. ACIT (2000) 243 ITR 92 (ii) Abad Enterprises v. CIT (2002) 253 ITR 319 (iii) CIT v. Jose Thomas (2002) 253 ITR 553 (iv) CIT v. Abad Fisheries (2002) 258 ITR 641 (v) Southern Cashew Exports v. DCIT (2003) 130 Taxman 203 (vi) ACIT v. South Indian Produce Co. (2003) 262 ITR 20 (vii) K. Ravindranathan Nair v. CIT (2003) 262 ITR 669 (viii) Urban Stanislaus Co. v. CIT (2003) 263 ITR 10 (ix) GTN Textiles v. DCIT (2005) 279 ITR 72. 15. In particul…

Abad Enterprises v. CIT (253 ITR 553) — Cited in 8 Judgments | BharatTax