ACG ASSOCIATED CAPSULES (P) LTD. v. COMMISSIONER OF INCOME TAX, CENTRAL-IV, MUMBAI

18 Taxmann.com 137Supreme Court of India2012#5297 most cited

What is ACG ASSOCIATED CAPSULES (P) LTD. v. COMMISSIONER OF INCOME TAX, CENTRAL-IV, MUMBAI authority for?

For the purpose of computing business income and for deductions under sections like 80-IHC or 80-IA, only net interest (interest received minus interest paid) is to be considered, not gross interest. The principle of netting applies when dealing with interest income and expenditure related to business profits.

22

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2024.

Also referred to as

ACG Associated Capsules · Section 80IHC · Section 80IA · net interest · gross interest · interest income · interest expenditure · netting of interest · business profits · Supreme Court

Issues it is cited on

section 28(iv)section 36(2)icdsrevision u/s 263business connectionsection 36(1)(iii)commercial expediencyrevenue expenditurecapital expendituresection 37(1)section 43bsection 36(1)

Judgments citing ACG ASSOCIATED CAPSULES (P) LTD. v. COMMISSIONER OF INCOME TAX, CENTRAL-IV, MUMBAI

TORRENT PHARMACEUTICALS LTD.,,AHMEDABAD vs. ACIT, CIRCLE-4(1)(2),, AHMEDABAD

In the result appeal of the Revenue is hereby partly allowed

ITA 1172/AHD/2019[2015-16]Status: DisposedITAT Ahmedabad26 Feb 2024AY 2015-16

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

For Appellant: Shri Vartik Choksi, With Shri DhrunalBhatt, ARsFor Respondent: Shri Ritesh Parmar, CIT-DR
Section 143(3)Section 14ASection 35Section 43BSection 80

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ । IN THE INCOME TAX APPELLATE TRIBUNAL, “D” BENCH, AHMEDABAD BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER AND Ms. MADHUMITA ROY, JUDICIAL MEMBER आयकर अपील सं./ITA(TP).No.2365 and 2366/Ahd/2018 "नधा"रण वष"/Asstt. Years: 2013-14 and 2014-15 Torrent Pharmaceuticals Ltd. D.C.I.T, Circle-4(1)(2) Torrent House, Vs. Ahmedabad. Nr. Dinesh Hall, Off.Ashram Road Ahmedabad 380009. PAN: AAACT5456A And Asstt. Year 2015-16 Torrent Pharmaceuticals Ltd. A.C.I.T, Circle-4(1)(2) Torrent House, Vs. Ahmedabad. Nr. Dinesh Hall, Off.Ashram Road Ahmedabad 380 009. PAN: AAACT5456A आयकर अपील सं./ITA.…

SOUTHERN PETROCHEMICAL INDUSTRIES CORPORATION LTD.,CHENNAI vs. ITO, CHENNAI

The appeal stands partly allowed

ITA 209/CHNY/2023[2006-07]Status: DisposedITAT Chennai10 Jan 2024AY 2006-07

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1.आयकरअपील सं./ Ita No.208/Chny/2023 (िनधा*रण वष* / Assessment Year: 2006-07) & 2.आयकरअपील सं./ Ita No.209/Chny/2023 (िनधा*रण वष* / Assessment Year: 2006-07) M/S. Southern Petrochemical Income Tax Officer बनाम Industries Corporation Limited Corporate Ward-3(1) 88, Spic House, Mount Road, Guindy, Chennai-600 034. / Vs. Chennai-600 032. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaacs-4668-K (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri R. Vijayaraghavan & Shri Saroj Kumar Parida (Advocates)-Ld. Ars " थ"कीओरसे/Respondent By : Shri Nilay Baran Som (Cit) & Shri Ar V Sreenivasan (Addl. Cit)-Ld. Drs सुनवाईकीतारीख/Date Of Hearing : 16-10-2023 घोषणाकीतारीख /Date Of Pronouncement : 10-01-2024 आदेश / O R D E R Manoj Kumar Aggarwal ()

For Appellant: Shri R. Vijayaraghavan & Shri Saroj KumarFor Respondent: Shri Nilay Baran Som (CIT) &
Section 143(3)

…आयकर अपीलीय अिधकरण “ए” "ायपीठ चे"ई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, CHENNAI माननीय "ी महावीर िसंह, उपा ! एवं माननीय "ी मनोज कुमार अ%वाल ,लेखा सद( के सम!। BEFORE HON’BLE SHRI MAHAVIR SINGH, VP AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM 1.आयकरअपील सं./ ITA No.208/Chny/2023 (िनधा*रण वष* / Assessment Year: 2006-07) & 2.आयकरअपील सं./ ITA No.209/Chny/2023 (िनधा*रण वष* / Assessment Year: 2006-07) M/s. Southern Petrochemical Income Tax Officer बनाम Industries Corporation Limited Corporate Ward-3(1) 88, Spic House, Mount Road, Guindy, Chennai-600 034. / Vs. Chennai-600 032. "थायीलेखासं./जीआइआरसं./PAN/GIR…

SOUTHERN PETROCHEMICAL INDUSTRIES CORPORATION LTD.,CHENNAI vs. ITO, CHENNAI

The appeal stands partly allowed

ITA 208/CHNY/2023[2006-07]Status: DisposedITAT Chennai10 Jan 2024AY 2006-07

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1.आयकरअपील सं./ Ita No.208/Chny/2023 (िनधा*रण वष* / Assessment Year: 2006-07) & 2.आयकरअपील सं./ Ita No.209/Chny/2023 (िनधा*रण वष* / Assessment Year: 2006-07) M/S. Southern Petrochemical Income Tax Officer बनाम Industries Corporation Limited Corporate Ward-3(1) 88, Spic House, Mount Road, Guindy, Chennai-600 034. / Vs. Chennai-600 032. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaacs-4668-K (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri R. Vijayaraghavan & Shri Saroj Kumar Parida (Advocates)-Ld. Ars " थ"कीओरसे/Respondent By : Shri Nilay Baran Som (Cit) & Shri Ar V Sreenivasan (Addl. Cit)-Ld. Drs सुनवाईकीतारीख/Date Of Hearing : 16-10-2023 घोषणाकीतारीख /Date Of Pronouncement : 10-01-2024 आदेश / O R D E R Manoj Kumar Aggarwal ()

For Appellant: Shri R. Vijayaraghavan & Shri Saroj KumarFor Respondent: Shri Nilay Baran Som (CIT) &
Section 143(3)

…आयकर अपीलीय अिधकरण “ए” "ायपीठ चे"ई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, CHENNAI माननीय "ी महावीर िसंह, उपा ! एवं माननीय "ी मनोज कुमार अ%वाल ,लेखा सद( के सम!। BEFORE HON’BLE SHRI MAHAVIR SINGH, VP AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM 1.आयकरअपील सं./ ITA No.208/Chny/2023 (िनधा*रण वष* / Assessment Year: 2006-07) & 2.आयकरअपील सं./ ITA No.209/Chny/2023 (िनधा*रण वष* / Assessment Year: 2006-07) M/s. Southern Petrochemical Income Tax Officer बनाम Industries Corporation Limited Corporate Ward-3(1) 88, Spic House, Mount Road, Guindy, Chennai-600 034. / Vs. Chennai-600 032. "थायीलेखासं./जीआइआरसं./PAN/GIR…

SOUTHERN PETROCHEMICAL INDUSTRIES CORPORATION LTD.,CHENNAI vs. ITO, CHENNAI

The appeal stands partly allowed

ITA 207/CHNY/2023[2005-06]Status: DisposedITAT Chennai10 Jan 2024AY 2005-06

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1.आयकरअपील सं./ Ita No.206/Chny/2023 (िनधा*रण वष* / Assessment Year: 2005-06) & 2.आयकरअपील सं./ Ita No.207/Chny/2023 (िनधा*रण वष* / Assessment Year: 2005-06) M/S. Southern Petrochemical Income Tax Officer बनाम Industries Corporation Limited Corporate Ward-3(1) 88, Spic House, Mount Road, Guindy, Chennai-600 034. / Vs. Chennai-600 032. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaacs-4668-K (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri R. Vijayaraghavan & Shri Saroj Kumar Parida (Advocates)-Ld. Ars " थ"कीओरसे/Respondent By : Shri Nilay Baran Som (Cit) & Shri Ar V Sreenivasan (Addl. Cit)-Ld. Drs सुनवाईकीतारीख/Date Of Hearing : 16-10-2023 घोषणाकीतारीख /Date Of Pronouncement : 10-01-2024 आदेश / O R D E R Manoj Kumar Aggarwal ()

For Appellant: Shri R. Vijayaraghavan & Shri Saroj KumarFor Respondent: Shri Nilay Baran Som (CIT) &
Section 143(3)Section 43B

…आयकर अपीलीय अिधकरण “ए” "ायपीठ चे"ई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, CHENNAI माननीय "ी महावीर िसंह, उपा ! एवं माननीय "ी मनोज कुमार अ%वाल ,लेखा सद( के सम!। BEFORE HON’BLE SHRI MAHAVIR SINGH, VP AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM 1.आयकरअपील सं./ ITA No.206/Chny/2023 (िनधा*रण वष* / Assessment Year: 2005-06) & 2.आयकरअपील सं./ ITA No.207/Chny/2023 (िनधा*रण वष* / Assessment Year: 2005-06) M/s. Southern Petrochemical Income Tax Officer बनाम Industries Corporation Limited Corporate Ward-3(1) 88, Spic House, Mount Road, Guindy, Chennai-600 034. / Vs. Chennai-600 032. "थायीलेखासं./जीआइआरसं./PAN/GIR…

SOUTHERN PETROCHEMICAL INDUSTRIES CORPORATION LTD.,CHENNAI vs. ITO, CHENNAI

The appeal stands partly allowed

ITA 206/CHNY/2023[2005-06]Status: DisposedITAT Chennai10 Jan 2024AY 2005-06

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1.आयकरअपील सं./ Ita No.206/Chny/2023 (िनधा*रण वष* / Assessment Year: 2005-06) & 2.आयकरअपील सं./ Ita No.207/Chny/2023 (िनधा*रण वष* / Assessment Year: 2005-06) M/S. Southern Petrochemical Income Tax Officer बनाम Industries Corporation Limited Corporate Ward-3(1) 88, Spic House, Mount Road, Guindy, Chennai-600 034. / Vs. Chennai-600 032. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaacs-4668-K (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri R. Vijayaraghavan & Shri Saroj Kumar Parida (Advocates)-Ld. Ars " थ"कीओरसे/Respondent By : Shri Nilay Baran Som (Cit) & Shri Ar V Sreenivasan (Addl. Cit)-Ld. Drs सुनवाईकीतारीख/Date Of Hearing : 16-10-2023 घोषणाकीतारीख /Date Of Pronouncement : 10-01-2024 आदेश / O R D E R Manoj Kumar Aggarwal ()

For Appellant: Shri R. Vijayaraghavan & Shri Saroj KumarFor Respondent: Shri Nilay Baran Som (CIT) &
Section 143(3)Section 43B

…आयकर अपीलीय अिधकरण “ए” "ायपीठ चे"ई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, CHENNAI माननीय "ी महावीर िसंह, उपा ! एवं माननीय "ी मनोज कुमार अ%वाल ,लेखा सद( के सम!। BEFORE HON’BLE SHRI MAHAVIR SINGH, VP AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM 1.आयकरअपील सं./ ITA No.206/Chny/2023 (िनधा*रण वष* / Assessment Year: 2005-06) & 2.आयकरअपील सं./ ITA No.207/Chny/2023 (िनधा*रण वष* / Assessment Year: 2005-06) M/s. Southern Petrochemical Income Tax Officer बनाम Industries Corporation Limited Corporate Ward-3(1) 88, Spic House, Mount Road, Guindy, Chennai-600 034. / Vs. Chennai-600 032. "थायीलेखासं./जीआइआरसं./PAN/GIR…

SOUTHERN PETROCHEMICAL INDUSTRIES CORPORATION LTD.,CHENNAI vs. ITO, CORPORATE WARD-3(1) , CHENNAI

In the result, the appeal stands partly allowed in terms of our above order

ITA 170/CHNY/2023[2003-04]Status: DisposedITAT Chennai09 Jan 2024AY 2003-04

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ Ita No.170/Chny/2023 (िनधा)रण वष) / Assessment Year: 2003-04) M/S. Southern Petrochemical Income Tax Officer बनाम Industries Corporation Limited Corporate Ward-3(1) 88, Spic House, Mount Road, Guindy, Chennai-600 034. / Vs. Chennai-600 032. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaacs-4668-K (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri R. Vijayaraghavan & Shri Saroj Kumar Parida (Advocates)-Ld. Ars " थ"कीओरसे/Respondent By : Shri Nilay Baran Som (Cit) & Shri Ar V Sreenivasan (Addl. Cit)-Ld. Drs सुनवाईकीतारीख/Date Of Hearing : 16-10-2023 घोषणाकीतारीख /Date Of Pronouncement : 09-01-2024 आदेश / O R D E R

For Appellant: Shri R. Vijayaraghavan & Shri Saroj KumarFor Respondent: Shri Nilay Baran Som (CIT) &
Section 143(3)

…of Rs.139.96 Lacs credited by the assessee. As per revisionary directions, Ld. AO enhanced the same by Rs.24.80 Lacs. During appellate proceedings, the assessee relied on the decision of Hon’ble Supreme Court in the case of ACG Associated Capsules Pvt. Ltd. (18 Taxmann.com 137) to plead that only net interest expense was to be considered for the purpose of disallowance. However, Ld. CIT(A) confirmed the disallowance by considering the decision of Tribunal for AYs 2005-06 & 2006-07, ITA No.961 & 962/Mds/2011 dated 09.02.2017 rendered in the context of challenge to revisionary jurisdiction u/s 263. The bench held…

PRINCIPAL COMMISSIONER OF INCOME TAX CENTRAL 2 KOLKATA vs. M/S SINGHAL ENTERPRISES PVT LTD

ITAT/103/2022HC Calcutta06 Sept 2022

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE SUPRATIM BHATTACHARYA

Section 143(3)Section 260ASection 263Section 80I

…O-77 ITAT/103/2022 IA No.GA/2/2022 IN THE HIGH COURT AT CALCUTTA Special Jurisdiction (Income Tax) ORIGINAL SIDE PRINCIPAL COMMISSIONER OF INCOME TAX, CENTRAL-2, KOLKATA -Versus- M/S. SINGHAL ENTERPRISES PVT. LTD. Appearance: Mr. Prithu Dudheria, Adv. ...for the appellant. Mr. Abhratosh Majumdar, Sr. Adv. Mr. Siddhartha Das, Adv. Ms. Swapna Das, Adv. ...for the respondent. BEFORE: The Hon’ble JUSTICE T.S. SIVAGNANAM -And- The Hon’ble JUSTICE SUPRATIM BHATTACHARYA Date : 6th September, 2022. The Court : This appeal filed by the revenue under Section 260A of the Income Tax…

NARAYAN INDUSTIRES ,NEW DELHI vs. ACIT, CIRCLE- 60(1), NEW DELHI

In the result, the appeal of the assessee is partly allowed

ITA 6153/DEL/2017[2014-15]Status: DisposedITAT Delhi30 Jun 2022AY 2014-15

Bench: Sh. Aakash Deep Jaindr. B. R. R. Kumar

For Appellant: Sh. Rohit Jain, Adv. &For Respondent: Sh. N. K. Bansal, Sr. DR
Section 253

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI Before Sh. Aakash Deep Jain, Vice President Dr. B. R. R. Kumar, Accountant Member ITA No. 6153/Del/2017 : Asstt. Year : 2014-15 Narayan Industries, Vs ACIT, 504-A, Nagarjuna Apartments, Circle-60(1), Chilla Regulator, Mayur Vihar, New Delhi Phase-1, New Delhi (APPELLANT) (RESPONDENT) PAN No. ADPPC2225D Assessee by : Sh. Rohit Jain, Adv. & Ms. Manish Sharma, Adv. Revenue by : Sh. N. K. Bansal, Sr. DR Date of Hearing: 12.05.2022 Date of Pronouncement: 30.05.2022 ORDER Per Dr. B. R. R. Kumar, Accountant Member: The present appeal has been filed b…

DY. COMMISSIONER OF INCOME TAX , CIRCLE-3(1), HYDERABAD vs. SAI REGENCY POWER CORPORATIONS PRIVATE LIMITED,, HYDERABAD

In the result, the appeal of the Revenue is allowed for statistical purposes

ITA 1221/HYD/2019[2012-13]Status: DisposedITAT Hyderabad22 Jun 2022AY 2012-13

Bench: Before Shri Rama Kanta Panda & Shri Laliet Kumarassessment Year: 2012-13 Dy.Commissioner Of Vs. Sai Regency Power Income Tax, Corporation Private Circle – 3(1), Limited, Kondapur, Hyderabad. Hyderabad. Pan : Aaccr6134R. (Appellant) (Respondent) Assessee By: Shri C.A. M.Chandramouleswar Rao Revenue By: Shri K.P.R.R. Murthy. Date Of Hearing: 14.06.2022 Date Of Pronouncement: 22.06.2022 O R D E R Per Laliet Kumar, J.M. This Is An Appeal Filed By The Revenue Having Aggrieved By The Order Passed By The Ld.Commissioner Of Income Tax (Appeals)-3, Order Dt.18.06.2019 For The Assessment Year 2012-13. 2. The Only Effective Ground Raised By The Revenue Reads As Under : “Ld.Cit(A) Erred In Deleting The Disallowance U/S. 80Ia On Interest Income Of Rs.3,00,93,705/- Without Appreciating The Fact That The Assessee Company Is Not Eligible For Deduction U/S. 80Ia On Interest Income Of Rs.3,00,93,705/- As The Income Was Not Directly Generated From Business Operations & Ignoring The Fact That Assessee Itself Has Shown Separately Such Income In The Computation Of Income For A.Y. 2010-11 & Not Claimed Deduction U/S 80Ia Thereon.”

For Appellant: Shri C.A. M.ChandramouleswarFor Respondent: Shri K.P.R.R. Murthy
Section 115JSection 143(3)Section 148Section 80I

…1 IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘ A ‘ Bench, Hyderabad Before Before Shri Rama Kanta Panda, Accountant Member AND Shri Laliet Kumar, Judicial Member Assessment Year: 2012-13 Dy.Commissioner of Vs. Sai Regency Power Income Tax, Corporation Private Circle – 3(1), Limited, Kondapur, Hyderabad. Hyderabad. PAN : AACCR6134R. (Appellant) (Respondent) Assessee by: Shri C.A. M.Chandramouleswar Rao Revenue by: Shri K.P.R.R. Murthy. Date of hearing: 14.06.2022 Date of pronouncement: 22.06.2022 O R D E R Per Laliet Kumar, J.M. This is an appeal filed by the Revenue having aggrieved by the order passed by…

THE ACIT, CIRCLE-5,, AHMEDABAD vs. M/S. NIRMA LIMITED,, AHMEDABAD

In the result appeal of the assessee is partly allowed for statistical purposes

ITA 1798/AHD/2015[2004-05]Status: DisposedITAT Ahmedabad24 Feb 2022AY 2004-05

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./Ita No. 1187 & 896/Ahd/2013 िनधा"रण वष"/Asstt. Years: 2000-2001 & 2004-2005 Nirma Limited, A.C.I.T., Nirma House, Vs. Circle-5, Ashram Road, Ahmedabad. Ahmedabad.

For Appellant: Shri S.N. Soparkar, Sr.Advocate with Shri Himanshu Shah, A.RFor Respondent: Shri Mohd Usman, CIT.D.R
Section 234Section 234CSection 271Section 801ASection 80HSection 80ISection 80l

…आयकर अपीलीय अिधकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’ D’’ BENCH, AHMEDABAD (CONDUCTED THROUGH VIRTUAL COURT AT AHMEDABAD) BEFORE SHRI RAJPAL YADAV, VICE PRESIDENT, And SHRI WASEEM AHMED, ACCOUNTANT MEMBER आयकर अपील सं./ITA No. 1187 & 896/AHD/2013 िनधा"रण वष"/Asstt. Years: 2000-2001 & 2004-2005 Nirma Limited, A.C.I.T., Nirma House, Vs. Circle-5, Ashram Road, Ahmedabad. Ahmedabad. PAN: AAACN5350K And आयकर अपील सं./ITA No. 1798/AHD/2015 िनधा"रण वष"/Asstt. Year: 2004-2005 A.C.I.T., Nirma Limited, Circle-5, Vs. Nirma House, Ahmedabad. Ashram Road, Ahmedabad. PAN: AAACN5350K (Applicant) (Re…

NIRMA LIMITED,AHMEDABAD vs. THE DY CIT, CIRCLE-5,, AHMEDABAD

In the result appeal of the assessee is partly allowed for statistical purposes

ITA 896/AHD/2013[2004-05]Status: DisposedITAT Ahmedabad24 Feb 2022AY 2004-05

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./Ita No. 1187 & 896/Ahd/2013 िनधा"रण वष"/Asstt. Years: 2000-2001 & 2004-2005 Nirma Limited, A.C.I.T., Nirma House, Vs. Circle-5, Ashram Road, Ahmedabad. Ahmedabad.

For Appellant: Shri S.N. Soparkar, Sr.Advocate with Shri Himanshu Shah, A.RFor Respondent: Shri Mohd Usman, CIT.D.R
Section 234Section 234CSection 271Section 801ASection 80HSection 80ISection 80l

…आयकर अपीलीय अिधकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’ D’’ BENCH, AHMEDABAD (CONDUCTED THROUGH VIRTUAL COURT AT AHMEDABAD) BEFORE SHRI RAJPAL YADAV, VICE PRESIDENT, And SHRI WASEEM AHMED, ACCOUNTANT MEMBER आयकर अपील सं./ITA No. 1187 & 896/AHD/2013 िनधा"रण वष"/Asstt. Years: 2000-2001 & 2004-2005 Nirma Limited, A.C.I.T., Nirma House, Vs. Circle-5, Ashram Road, Ahmedabad. Ahmedabad. PAN: AAACN5350K And आयकर अपील सं./ITA No. 1798/AHD/2015 िनधा"रण वष"/Asstt. Year: 2004-2005 A.C.I.T., Nirma Limited, Circle-5, Vs. Nirma House, Ahmedabad. Ashram Road, Ahmedabad. PAN: AAACN5350K (Applicant) (Re…

RAVI MOHAN GEHI,MUMBAI vs. DCIT CEN CIR 40, MUMBAI

In the result, appeal filed by the assessee is partly allowed

ITA 6238/MUM/2016[2011-12]Status: DisposedITAT Mumbai16 Sept 2020AY 2011-12

Bench: Shri S. Rifaur Rahman, Am & Shri Ram Lal Negi, Jm आयकरअपीलसं./ I.T.A. No. 6238/Mum/2016 (निर्धारणवर्ा / Assessment Year: 2011-12) Dcit Cen Cir 40, Ravi Mohan Gehi, Piramal Chambers B/6, Navkar Chambers, बिधम/ Mumbai Andheri Kurla Road, Vs. Pin- Andheri (E), Mumbai-400 059 स्थायीलेखासं./जीआइआरसं./Pan No. Aeppg1674M (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant : Shri Pradip Kanasi, Ar By प्रत्यथीकीओरसे/Respondentby : Shri Michael, Dr Virtual Date Of Hearing 29.07.2020 : Date Of Pronouncement 16.09.2020 :

For Appellant: Shri Pradip Kanasi, AR byFor Respondent: Shri Michael, DR
Section 143(1)Section 143(2)Section 14ASection 153ASection 234BSection 57

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI S. RIFAUR RAHMAN, AM & SHRI RAM LAL NEGI, JM आयकरअपीलसं./ I.T.A. No. 6238/Mum/2016 (निर्धारणवर्ा / Assessment Year: 2011-12) DCIT Cen Cir 40, Ravi Mohan Gehi, Piramal Chambers B/6, Navkar Chambers, बिधम/ Mumbai Andheri Kurla Road, Vs. Pin- Andheri (E), Mumbai-400 059 स्थायीलेखासं./जीआइआरसं./PAN No. AEPPG1674M (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant : Shri Pradip Kanasi, AR by प्रत्यथीकीओरसे/Respondentby : Shri Michael, DR Virtual Date of Hearing 29.07.2020 : Date of Pronouncement 16.09.2020 : आदेश / O R D E R Per S.…

THE COMMISSIONER OF INCOME-TAX vs. M/S ABB LIMITED

In the result, the appeal fails and is dismissed

ITA/95/2013HC Karnataka09 Sept 2020

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

Section 260Section 80H

…1 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 9TH DAY OF SEPTEMBER 2020 PRESENT THE HON’BLE MR. JUSTICE ALOK ARADHE AND THE HON’BLE MR. JUSTICE H.T.NARENDRA PRASAD I.T.A. NO.95 OF 2013 BETWEEN: 1. THE COMMISSIONER OF INCOME TAX LTU, JSS TOWERS, BSK III STAGE BANGALORE. 2. THE ADDL. COMMISSIONER OF INCOME TAX RANGE-8(1), MUMBAI. 3. THE JOINT COMMISSIONER OF INCOME TAX LTU, JSS TOWERS, BSK III STAGE BANGALORE. ... APPELLANTS (BY SRI. K.V. ARAVIND, ADV.) AND: M/S. ABB LIMITED (FORMERLY ASEA BROWN BOVERI LIMITED) NO.22A, SHAH INDUSTRI…

M/S. DEEPAK INDUSTRIES LTD.,KOLKATA vs. DCIT, CIRCLE - 6, KOLKATA, KOLKATA

In the result, appeal of the assessee is partly allowed

ITA 2317/KOL/2016[2010-11]Status: DisposedITAT Kolkata26 Apr 2019AY 2010-11

Bench: Shri A.T.Varkey, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.2317/Kol/2016 ("नधा"रणवष" / Assessment Year:2010-11)

For Appellant: Shri S. Jhajharia, FCAFor Respondent: Shri Shankar Halder, JCIT Sr. DR
Section 143(3)Section 40aSection 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL “C”, BENCH KOLKATA BEFORE SHRI A.T.VARKEY, JM &DR. A.L.SAINI, AM आयकरअपीलसं./ITA No.2317/Kol/2016 ("नधा"रणवष" / Assessment Year:2010-11) M/s Deepak Industries Ltd. Vs. DCIT, Circle-6, Kolkata C/o, SalarpuriaJajodia& Co. 7, C.R.Avenue, Kolkata-700072 "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAACD 8676 J (Assessee) .. (Revenue) Assessee by :Shri S. Jhajharia, FCA Respondent by : Shri Shankar Halder, JCIT Sr. DR सुनवाईक"तार"ख/ Date of Hearing : 12/02/2019 घोषणाक"तार"ख/Date of Pronouncement : 26/04/2019 आदेश / O R D E R Per Dr. A. L. Saini: The captioned appeal filed by the As…

JCIT, (OSD), CIR-4(1), KOLKATA, KOLKATA vs. M/S BEEYU OVERSEAS LTD., KOLKATA

In the result, both the appeals of the revenue are dismissed

ITA 629/KOL/2016[2003-2004]Status: DisposedITAT Kolkata03 Apr 2019AY 2003-2004

Bench: Sri J. Sudhakar Reddy & Sri S.S. Godara] I.T.A. No. 628/Kol/2016 Assessment Year: 2002-03 I.T.A. No. 629/Kol/2016 Assessment Year: 2003-04 Jcit (Osd), Circle-4(1), Kolkata…………...................................................….…………..…......Appellant M/S. Beeyu Overseas Ltd....……………………………………....………………..……………………Respondent 64A, Ballygunge Circular Road Kolkata – 700 019 [Pan : Aabcb 3327 K] Appearances By: Shri Miraj D. Shah, A/R, Appeared On Behalf Of The Assessee. Shri C.J. Singh, Jcit Sr. D/R, Appearing On Behalf Of The Revenue.

Section 250Section 35DSection 72ASection 80H

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘A’ BENCH, KOLKATA [Before Sri J. Sudhakar Reddy, Accountant Member & Sri S.S. Godara, Judicial Member] I.T.A. No. 628/Kol/2016 Assessment Year: 2002-03 I.T.A. No. 629/Kol/2016 Assessment Year: 2003-04 JCIT (OSD), Circle-4(1), Kolkata…………...................................................….…………..…......Appellant M/s. Beeyu Overseas Ltd....……………………………………....………………..……………………Respondent 64A, Ballygunge Circular Road Kolkata – 700 019 [PAN : AABCB 3327 K] Appearances by: Shri Miraj D. Shah, A/R, appeared on behalf of the assessee. Shri C.J. Singh, JCIT Sr. D/R, appear…

JCIT, (OSD), CIR-4(1), KOLKATA, KOLKATA vs. M/S BEEYU OVERSEAS LTD., KOLKATA

In the result, both the appeals of the revenue are dismissed

ITA 628/KOL/2016[2002-2003]Status: DisposedITAT Kolkata03 Apr 2019AY 2002-2003

Bench: Sri J. Sudhakar Reddy & Sri S.S. Godara] I.T.A. No. 628/Kol/2016 Assessment Year: 2002-03 I.T.A. No. 629/Kol/2016 Assessment Year: 2003-04 Jcit (Osd), Circle-4(1), Kolkata…………...................................................….…………..…......Appellant M/S. Beeyu Overseas Ltd....……………………………………....………………..……………………Respondent 64A, Ballygunge Circular Road Kolkata – 700 019 [Pan : Aabcb 3327 K] Appearances By: Shri Miraj D. Shah, A/R, Appeared On Behalf Of The Assessee. Shri C.J. Singh, Jcit Sr. D/R, Appearing On Behalf Of The Revenue.

Section 250Section 35DSection 72ASection 80H

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘A’ BENCH, KOLKATA [Before Sri J. Sudhakar Reddy, Accountant Member & Sri S.S. Godara, Judicial Member] I.T.A. No. 628/Kol/2016 Assessment Year: 2002-03 I.T.A. No. 629/Kol/2016 Assessment Year: 2003-04 JCIT (OSD), Circle-4(1), Kolkata…………...................................................….…………..…......Appellant M/s. Beeyu Overseas Ltd....……………………………………....………………..……………………Respondent 64A, Ballygunge Circular Road Kolkata – 700 019 [PAN : AABCB 3327 K] Appearances by: Shri Miraj D. Shah, A/R, appeared on behalf of the assessee. Shri C.J. Singh, JCIT Sr. D/R, appear…

THE COMMISSIONER OF INCOME TAX vs. M/S. BOSCH LTD

The appeals are disposed off

ITA/75/2011HC Karnataka19 Nov 2018

Bench: The Hon'Ble Mr. Justice Ravi Malimath

Section 260Section 80H

…1 IN THE HIGH COURT OF KARNATAKA AT BENGALURU ON THE 19TH DAY OF NOVEMBER, 2018 BEFORE THE HON'BLE MR. JUSTICE RAVI MALIMATH AND THE HON'BLE MR. JUSTICE K. NATARAJAN INCOME TAX APPEAL No.75 of 2011 c/w INCOME TAX APPEAL No.76 of 2011 BETWEEN 1. THE COMMISSIONER OF INCOME-TAX, LTU, JSS TOWERS, 100 FEET RING ROAD, BANASHANKARI III STAGE, BANGALORE. 2. THE ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE-12(1), C.R. BUILDING, QUEENS ROAD, BANGALORE. ... APPELLANTS (Common in both appeals) (BY SRI K.V. ARAVIND, ADVOCA…

THE COMMISSIONER OF INCOME TAX, vs. M/S. BOSCH LTD.,

The appeals are disposed off

ITA/76/2011HC Karnataka19 Nov 2018

Bench: The Hon'Ble Mr. Justice Ravi Malimath

Section 260Section 80H

…1 IN THE HIGH COURT OF KARNATAKA AT BENGALURU ON THE 19TH DAY OF NOVEMBER, 2018 BEFORE THE HON'BLE MR. JUSTICE RAVI MALIMATH AND THE HON'BLE MR. JUSTICE K. NATARAJAN INCOME TAX APPEAL No.75 of 2011 c/w INCOME TAX APPEAL No.76 of 2011 BETWEEN 1. THE COMMISSIONER OF INCOME-TAX, LTU, JSS TOWERS, 100 FEET RING ROAD, BANASHANKARI III STAGE, BANGALORE. 2. THE ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE-12(1), C.R. BUILDING, QUEENS ROAD, BANGALORE. ... APPELLANTS (Common in both appeals) (BY SRI K.V. ARAVIND, ADVOCA…

LALA BANSI DHAR & SONS,,NEW DELHI vs. ACIT, NEW DELHI

In the result, the appeal is allowed

ITA 1640/DEL/2015[2011-12]Status: DisposedITAT Delhi04 Sept 2018AY 2011-12

Bench: : Shri Amit Shukla & Shri L.P. Sahuassessment Year: 2011-12

Section 271(1)(c)Section 56Section 57

…In the Income-Tax Appellate Tribunal, Delhi Bench ‘D’, New Delhi Before : Shri Amit Shukla, Judicial Member And Shri L.P. Sahu, Accountant Member Assessment Year: 2011-12 Lala Bansi Dhar & Sons, Diamond vs. ACIT, Circle 38(1), Press Building, 8E, Rani Jhansi Road, New Delhi. Jhandewalan Extension, New Delhi PAN – AAAHL 0339P (Appellant) (Respondent) Assessee by Sh. Pradeep Dinodia & Sh. R.K. Kapoor, C.A. Revenue by Sh. Amit Jain, Sr. DR Date of Hearing 14.08.2018 Date of Pronouncement 04.09.2018 ORDER Per L.P. Sahu, A.M.: This is an appeal filed by the assessee against the order of the ld. CIT(A)-20, New…

ACIT, CENTRAL CIRCLE-2(1), KOLKATA,KOLKATA vs. M/S AMRIT HATCHERIES PVT. LTD., KOLKATA

In the result, the appeal of the revenue in ITA No

ITA 2304/KOL/2016[2013-14]Status: DisposedITAT Kolkata23 Feb 2018AY 2013-14

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A Nos. 2304 & 2305/Kol/2016 Assessment Year : 2013-14 Acit, Cc-2(1), Kolkata -Vs- M/S Amrit Hatcheries Pvt. Ltd. [Pan: Aacca 5987 F] (Appellant) (Respondent)

For Appellant: Shri G. Hangshing, CITFor Respondent: Shri D.S. Damle, FCA
Section 143(3)Section 271ASection 80I

…he Income Tax Act, 1961. The assessee submitted that such action of the ld. AO was grossly unjustified in facts and also in law. The assessee placed reliance on the decision of the Hon'ble Supreme Court in the case of ACG Associated Capsules (P) Ltd. vs. CIT (18 Taxmann.com 137) . In the aforesaid decision, the question before the High Court was whether ‘net’ interest or ‘gross interest’ was to be considered for the purposes of computing deduction in respect of profits from export business under section 80HHC of the Act. It was the Department’s contention that the gross interest income was to be excluded from ‘pr…

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