ACIT v. Goldmine Shares & Finance (P) Limited

302 ITR 208Income Tax Appellate Tribunal2008#17594 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2015 to 2024.

Sections most often in play

Section 147 Section 148 Section 28(i)Section 36(1)(vii)Section 37 Section 70 Section 71 Section 801A(5)

Judgments citing ACIT v. Goldmine Shares & Finance (P) Limited

Titan Company Limited, Hosur vs. Assistant Commissioner of Income Tax - Ltu 2 (Ic), Chennai

In the result the appeal raised by the assessee is partly allowed

ITA 1742/CHNY/2024[2011- 12]Status: DisposedITAT Chennai04 Dec 2024

Bench: Shri Ss Viswanethra Ravi & Shri Amitabh Shuklaआयकर अपील सं./Ita No.1742/Chny/2024 निर्धारण वर्ा /Assessment Years: 2011-12 Titan Company Limited, Assistant Commissioner Of No.3, Sipcot Industrial Complex, Income Tax, Hosur, Krishnagiri, Ltu-2, Tamil Nadu-635126 Chennai [Pan: Aaact5131A] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) : Shri Abhay Kumar, C.A अपीलार्थी की ओर से/ Assessee By : Ms.Komali Krishna, Cit प्रत्यर्थी की ओर से /Revenue By सुनवाई की तारीख/Date Of Hearing : 10.09.2024 घोषणा की तारीख /Date Of Pronouncement : 04.12.2024

For Appellant: Ms.Komali Krishna, CIT

Section 147Section 250Section 80Section 80C(2)(a)Section 80I

…Act. 7.8 Reliance is also placed on the decision of the Hon'ble Special Bench of ITAT, Ahmedabad deciding this issue in favour of the revenue in the case of ACIT Vs Goldmine Shares And Finance Pvt. Ltd., dated 30 April, 2008, [2008] 113 ITD 209 (AHD), (2008] 302 ITR 208 (AHD), (2008)116 TTJ (AHD) 705. The relevant part of the judgment is extracted below: "60. ... Therefore though losses were set off against other sources income, they are to assumed as not set off in absence of existence of another source and for computing the profit and gains for the purposes of determination of the quantum of deduction one has…

M/S. Havells India Ltd., New Delhi vs. ACIT, New Delhi

The appeal of the assessee is partly allowed for statistical purpose

ITA 4695/DEL/2012[2008-09]Status: DisposedITAT Delhi10 Nov 2020AY 2008-09

Bench: Shri Anil Chaturvedi & Ms Suchitra Kamble(Through Video Conferencing) Vs Havells India Ltd. Acit 1, Raj Narian Marg, Ltu Civil Lines New Delhi New Delhi Aaach0351E (Respondent) (Appellant)

Section 251Section 40Section 80I

…der Section 80-IC of the Act was duly supported by audit report in prescribed Form No.10CCB filed along with the return of income. The Ld. AR submitted that the Assessing Officer, merely relied on the decision of ACIT vs. Goldmine Shares & Finance (P) Limited 302 ITR 208 (Ahemdabad) (SB) and without appreciating the facts of the case and correct position in law, held that in terms of section 80-IA(5) of the Act, losses of eligible undertakings viz., Baddi Unit-2 and Haridwar Unit, relating to earlier assessment years 2006-07 and 2007-08 was required to be set off on a notional basis, against profits of the said u…

Dy. C.I.T.1(2), Raipur (Cg) vs. M/S Godawari Power & Ispat Ltd., Raipur (Cg)

In the result, the appeal filed by the Revenue is partly allowed for

ITA 365/BIL/2014[2011-12]Status: DisposedITAT Raipur01 Oct 2018AY 2011-12

Bench: Shri R. K. Panda & Ms. Suchitra Kambleassessment Year : 2011-12 Dcit- 1(2), Godawari Power & Ispat Ltd., Raipur (Cg). Plot No.482/2, Industrial Growth Vs. Centre, Phase- 1, Siltara, Raipur (Cg).

For Appellant: Shri R. B. Doshi, CAFor Respondent: Shri P. K. Mishra, CIT(DR)

Section 143(2)Section 143(3)Section 14ASection 3Section 80Section 80I

…nnot be set off against the profits of another eligible undertaking and also against non-eligible 6 C.O. No.12/RPR/2018 undertaking. The decision of the Ahmedabad Special Bench of the Tribunal in the case of Goldmine Shares and Finance (P) Ltd. reported in 302 ITR 208 and the various other decisions were brought to the notice of the ld. CIT(A). 8. Based on the arguments advanced by the assessee, the ld. CIT(A) held that the Assessing Officer is not justified in making the adjustment of profit of eligible undertaking with losses of other eligible undertaking by observing as under :- “5. I have carefully gone…

DCIT Cen Cir 10, Mumbai vs. Chawla Brothers P. Ltd, Mumbai

In the result, the appeal of the Revenue as well as of the assessee, both are dismissed

ITA 6736/MUM/2013[2010-11]Status: DisposedITAT Mumbai04 Nov 2015AY 2010-11

Bench: S/Shri R. C. Sharma & Amarjit Singh] आयकर अपील सं/ I.T.A. No.6736/Mum/2013 ("नधा"रण वष" / Assessment Year: 2010-11

For Respondent: Dr. S. Pandian (DR)

Section 22Section 23Section 80I

…ideration for computation of deduction under section 80-IA ? Whether, on the facts and in the circumstances of the (d) case, the Tribunal is right in law in following the decision of the Special Bench in the case of Goldmine Shares and Finance (P) Ltd. [20081 302 ITR 208(AT) (Ahd.) when admittedly the said decision was rendered prior to the amendment to section 80-IA by the Finance Act, 1999 ?" 16. The High Court thus observed that "in the present case there is no dispute that losses incurred by the assessee were already set off and adjusted against the profits of the earlier years. During the relevant assessmen…

Chawla Brothers P.Ltd, Mumbai vs. Asst CIT Cen Cir 10, Mumbai

In the result, the appeal of the Revenue as well as of the assessee, both are dismissed

ITA 6047/MUM/2013[2010-11]Status: DisposedITAT Mumbai04 Nov 2015AY 2010-11

Bench: S/Shri R. C. Sharma & Amarjit Singh] आयकर अपील सं/ I.T.A. No.6736/Mum/2013 ("नधा"रण वष" / Assessment Year: 2010-11

For Respondent: Dr. S. Pandian (DR)

Section 22Section 23Section 80I