ACIT v. Nilgiri Tea Estate Ltd.

65 SOT 14Income Tax Appellate Tribunal2014#10703 most cited

What is ACIT v. Nilgiri Tea Estate Ltd. authority for?

Income not falling within the purview of total income under section 5 of the Income Tax Act cannot be included in the computation of book profit under section 115JB, as Chapter XII-B does not extend the scope of total income.

10

judgments rely on this decision, according to BharatTax’s citation analysis of 366,315 Indian tax judgments — from 2017 to 2024.

Also referred to as

ACIT v. Nilgiri Tea Estate Ltd. · 65 SOT 14 · section 115JB · book profit · total income · section 5 · Chapter XII-B · income not chargeable to tax

Judgments citing ACIT v. Nilgiri Tea Estate Ltd.

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

…rming part of the profit and loss account of the assessee and the profits arrived after such adjustment should be considered for the purpose of computation of book profits u/s 115JB of the Act. 19. In the case of ACIT -vs.- The Nilgiri Tea Estate Ltd. (2014) 65 SOT 14 (Cochin) (URO) (Refer Page 151 -156 of the Case Law Paperbook) wherein it was held that any income, which does not fall within the purview of Total Income u/s 5 of the IT Act, cannot be taxed under any other provisions of the Act. Further, the Hon’ble Tribunal held that the provisions of Chapter Xll-B of the Act do not operate to extend the scope o…

Greenlam Industries Limited, Tinsukia vs. Assistant Commissioner of Income Tax, Circle-Tinsukia, Tinsukia

In the result, appeal filed by the assessee is allowed as per the terms indicated above

ITA 402/GTY/2019[2015-16]Status: DisposedITAT Guwahati19 Dec 2022AY 2015-16

Bench: Sri Rajpal Yadav(Kz) & Dr. Manish Borad

Section 115JSection 143(2)Section 143(3)Section 244ASection 25Section 250Section 251(1)(a)Section 31(3)(a)

…आयकर अपीलीय अधिकरण गुवाहाटी 'डीबी' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL GUWAHATI ‘DB’ BENCH AT KOLKATA [वर्ुअल कोटु] [Virtual Court] श्री राजपाल यादव, उपाध्यक्ष (कोलकाता क्षेत्र) एवं डॉ. मनीष बोरड, लेखा सदस्य के समक्ष Before SRI RAJPAL YADAV, VICE PRESIDENT (KZ) & DR. MANISH BORAD, ACCOUNTANT MEMBER I.T.A. No.: 402/Gau/2019 Assessment Year: 2015-16 Greenlam Industries Limited...................................Appellant [PAN: AAFCG 2966 D] Vs. ACIT, Circle-Tinsukia, Assam…………....................Respondent Appearances by: Sh. Ashok Tulsyan, Adv., appeared on behalf of the Assessee. Sh. N.T. Sherpa,…

ACIT, Circle - Tinsukia, Tinsukia vs. M/S. Greenply Industries Ltd., Tinsukia

In the result, the appeal of the assessee for A

ITA 359/GTY/2019[2014-15]Status: DisposedITAT Guwahati21 Jun 2022AY 2014-15

Bench: Shri A.T. Varkey & Shri Manish Borad

Section 115JSection 143(2)Section 80ISection 92C

…AT, Delhi; (iii) ACIT –vs.- Shree Cement Limited (ITA No. 614/JP/2010) order dated 09.09.2011; (iv) CIT –vs.- Harinagar Sugar Mills Limited (ITA No. 1132 of 2014) order dated 04.01.2017 (Bombay High Court); (v) ACIT –vs.- the Nilgiri Tea Estate Limited (2014) 65 SOT 14 (Cochin) (URO); & In the following cases, the Hon’ble Kolkata Tribunal held that sales tax incentives/excise subsidy to be capital in nature and needs to be excluded in computing book profit under section 115JB of the Act: (vi) Tata Metaliks Ltd. –vs.- ITO (2018) ITA No. 439 & 478/KOL/2016); (vi) DCIT –vs.- M/s. Emami Biotech Limited (2019) ITA No.…

Greenply Industries Limited, Tinsukia vs. Assistant Commissioner of Income Tax, Circle-Tinsukia, Tinsukia

In the result, the appeal of the assessee for A

ITA 232/GTY/2019[2014-15]Status: DisposedITAT Guwahati21 Jun 2022AY 2014-15

Bench: Shri A.T. Varkey & Shri Manish Borad

Section 115JSection 143(2)Section 80ISection 92C

…AT, Delhi; (iii) ACIT –vs.- Shree Cement Limited (ITA No. 614/JP/2010) order dated 09.09.2011; (iv) CIT –vs.- Harinagar Sugar Mills Limited (ITA No. 1132 of 2014) order dated 04.01.2017 (Bombay High Court); (v) ACIT –vs.- the Nilgiri Tea Estate Limited (2014) 65 SOT 14 (Cochin) (URO); & In the following cases, the Hon’ble Kolkata Tribunal held that sales tax incentives/excise subsidy to be capital in nature and needs to be excluded in computing book profit under section 115JB of the Act: (vi) Tata Metaliks Ltd. –vs.- ITO (2018) ITA No. 439 & 478/KOL/2016); (vi) DCIT –vs.- M/s. Emami Biotech Limited (2019) ITA No.…

Batliboi Ltd, Mumbai vs. DCIT Cir 2(1), Mumbai

In the result, appeal of the assessee is allowed in part

ITA 5428/MUM/2015[2011-12]Status: DisposedITAT Mumbai17 Feb 2021AY 2011-12

Bench: Shri M.Balaganesh, Am & Shri Pavan Kumar Gadale, Jm M/S. Batliboi Limited Vs. Dy. Cit, Circle 2(1) Bharat House, Aayakar Bhavan 5Th Floor, 104 5Th Floor, Mumbai-400001 Mumbai Samachar Marg Fort, Mumbai -400 001 Pan/Gir No. Aaacb4408L (Appellant) .. (Respondent)

Section 115JSection 143(3)Section 40A

…per the profit & loss account as per Companies Act can be brought to tax as a book profit. This has been held so by Spl. Bench in case of Sutlej Cotton Mills Ltd. (supra) and by Cochin Bench of ITAT in the case of Asstt. CIT v. Nilgiri Tea Estate Ltd. [2014] 65 SOT 14 (URO)/47 taxmann.com 329 (Cochin), wherein the Tribunal held that, an item of income which does not come within the purview of the Income Tax cannot be subjected to tax under any other provision of the Act. 15. Now whether the surplus arising on account of waiver of the principal amount of loan is required to be credited to the profit & loss accoun…

Asst CIT (Ltu) 2, Mumbai vs. Reliance Industries Ltd, Mumbai

ITA 1547/MUM/2016[2010-11]Status: DisposedITAT Mumbai28 Sept 2018AY 2010-11

Bench: S/Shri B.R.Baskaran (Am) & Amarjit Singh (Jm)

Section 43B

…ition of a capital asset 6 L.H. Sugar Factory Lucknow 46 CCH 354 Sales of carbon credit 50 ITAT being a capital receipt 7 Binani Industries Ltd. Kolkata ITAT 178 TTJ 658 Forfeiture of share 4.3.1, .3.2, warrants 4.4, 4.5 & 4.6 8 Nilgiri Tea Estate Cochin ITAT 65 SOT 14 Profit on sale of 7&8 Ltd. agricultural land which is not a capital asset 9 Shivalik Venture Pvt. Mumbai ITAT 173 TTJ 238 Profit arising on transfer 26 to 28 Ltd. of development rights 10 Metal & Chromium Madras ITAT 76 taxmann.com Long-term capital gain 6 & 7 Plater (P) Ltd. 229 exempt u/s. 54EC 11 Sutlej Cotton Mills Kolkata 45 ITD 22 Capital gai…

DCIT 4(1)(2), Mumbai vs. Deegee Orchards P.Ltd, Mumbai

In the result, the appeal of the revenue is dismissed and the cross objection of the assessee is allowed

ITA 4613/MUM/2016[2010-11]Status: DisposedITAT Mumbai08 Aug 2018AY 2010-11

Bench: S/Shri B.R.Baskaran (Am) & Amarjit Singh (Jm)

Section 115J

…ar Factory Lucknow 46 CCH 354 Sales of carbon credit 50 ITAT being a capital receipt 7 Binani Industries Ltd. Kolkata ITAT 178 TTJ 658 Forfeiture of share 4.3.1, .3.2, warrants 4.4, 4.5 & 4.6 8 M/s. Deegee Orchards Pvt. Ltd. 8 Nilgiri Tea Estate Cochin ITAT 65 SOT 14 Profit on sale of 7&8 Ltd. agricultural land which is not a capital asset 9 Shivalik Venture Pvt. Mumbai ITAT 173 TTJ 238 Profit arising on transfer 26 to 28 Ltd. of development rights 10 Metal & Chromium Madras ITAT 76 taxmann.com Long-term capital gain 6 & 7 Plater (P) Ltd. 229 exempt u/s. 54EC 11 Sutlej Cotton Mills Kolkata 45 ITD 22 Capital…

Assistant Commissioner of Income-Tax vs. M/S. Abhay Cotex Pvt. Ltd., Jalna

In the result, the appeal of the Revenue is dismissed

ITA 1423/PUN/2016[2011-12]Status: DisposedITAT Pune18 Jul 2018AY 2011-12

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं आयकर अपील सं. / Ita No. 1423/Pun/2016 आयकर अपील सं आयकर अपील सं िनधा"रण वष" िनधा"रण वष" / Assessment Year : 2011-12 िनधा"रण वष" िनधा"रण वष"

For Appellant: Shri Rahul Kaul & Shri Anand PartaniFor Respondent: Shri Mukesh Jha
Section 115JSection 32

…eliance on the decision in the case of Balrampur Chini Mills Ltd (238 ITR 445), Pratappur Sugar & Industries Ltd vide order dated 03.09.2004 in ITA No.2619/Kol/02 for AY 1999-2000, CIT Vs. Essorope Mills Ltd (139 Taxman 180), ACIT Vs. Nilgiri Tea Estate Ltd. (65 SOT 14), CIT Vs. Gitanjali Mills Ltd. (136 Taxman 21) and ITAT, Mumbai ‘E’ Bench in the case of Pal Synthetics Ltd. Vs. Jt. CIT (IT Appeal No.1310 (Mum,) of 2003, dated 6-2-2007). There is no change in the facts & circumstances in the current year as compared to that in AY 2012-13. Accordingly I direct the AO to reduce the capital receipt of Rs.2,29,41,97…

Asst CIT Cir 11(5) vs. Jsw Steel Ltd

In the result assessee’s appeal is partly allowed whereas revenue’s appeal is dismissed

ITA 930/BANG/2009[2004-05]Status: DisposedITAT Mumbai13 Jan 2017AY 2004-05

Bench: Shri Amit Shukla & Shri Ashwani Tanejaassessment Year: 2004-05

For Appellant: S/Shri Kanchan Kaushal & Hirali Desai, A.RFor Respondent: Shri Alok Johri, CIT D.R
Section 115JSection 139(1)Section 143(3)Section 234BSection 244A

…loss account as per Companies Act can be brought to tax as a book profit. This has been held so by Spl. Bench in case of Sutlej Cotton Mills Ltd. vs. ACIT (supra) and by Cochin Bench of ITAT in the case of ACIT vs. Nilgiri Tea Estate Ltd., reported in (2014) 65 SOT 14, wherein the ITA No.923/Bang/2009 & ITA No.930/Bang/2009 23 M/s. JSW Steel Limited, (formerly known as Jindal Vijaynagar Steel Limited) Tribunal held that, an item of income which does not come within the purview of the Income Tax cannot be subjected to tax under any other provision of the Act. 15. Now whether the surplus arising on account of wa…

Jsw Steel Ltd vs. Asst CIT Cir 11(5)

In the result assessee’s appeal is partly allowed whereas revenue’s appeal is dismissed

ITA 923/BANG/2009[2004-05]Status: DisposedITAT Mumbai13 Jan 2017AY 2004-05

Bench: Shri Amit Shukla & Shri Ashwani Tanejaassessment Year: 2004-05

For Appellant: S/Shri Kanchan Kaushal & Hirali Desai, A.RFor Respondent: Shri Alok Johri, CIT D.R
Section 115JSection 139(1)Section 143(3)Section 234BSection 244A

…loss account as per Companies Act can be brought to tax as a book profit. This has been held so by Spl. Bench in case of Sutlej Cotton Mills Ltd. vs. ACIT (supra) and by Cochin Bench of ITAT in the case of ACIT vs. Nilgiri Tea Estate Ltd., reported in (2014) 65 SOT 14, wherein the ITA No.923/Bang/2009 & ITA No.930/Bang/2009 23 M/s. JSW Steel Limited, (formerly known as Jindal Vijaynagar Steel Limited) Tribunal held that, an item of income which does not come within the purview of the Income Tax cannot be subjected to tax under any other provision of the Act. 15. Now whether the surplus arising on account of wa…

ACIT v. Nilgiri Tea Estate Ltd. (65 SOT 14) — Cited in 10 Judgments | BharatTax