Ahmadabad in ACIT v. Goldmine Shares & Finance (P.) Ltd.

113 ITD 209Income Tax Appellate Tribunal2008#3152 most cited

What is Ahmadabad in ACIT v. Goldmine Shares & Finance (P.) Ltd. authority for?

When computing eligible profits for deduction under section 80-IA, earlier losses that were set off against other income must be notionally considered and set off against the profits of the eligible business.

37

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2025.

Also referred to as

Goldmine Shares & Finance · ACIT v. Goldmine Shares & Finance · section 80-IA · eligible profits · deduction · set off losses · notionally brought back losses · section 80-IA(5)

Sections most often in play

Section 143(3)Section 147Section 148Section 28(i)Section 36(1)(vii)Section 37Section 37(1)Section 43B

Issues it is cited on

section 8d(2)(ii)section 80ia(5)section 14(2)section 8dsection 33bsection 134section 198section 197ainitial assessment yearsection 14a(1)set off of lossessection 40(a)(ii)

Judgments citing Ahmadabad in ACIT v. Goldmine Shares & Finance (P.) Ltd.

DCIT-CC-8(4), MUMBAI, MUMBAI vs. SAVITA OIL TECHNOLOGIES LIMITED, MUMBAI

In the result, appeal of the Revenue is dismissed

ITA 4292/MUM/2025[2018-19]Status: DisposedITAT Mumbai10 Nov 2025AY 2018-19

Bench: Shri Saktijit Dey, Hon'Ble & Shri Girish Agrawalassessment Year: 2018-19 Dcit-Cc-8(4), Savita Oil Technologies Limited Mumbai 66-67 Nariman Bhavan, Vs. Nariman Point, Mumbai 400021, Pan: Aaacs7934A (Appellant) (Respondent) Present For: Assessee : Shri Yogesh Thar & Shri Chaitanya Joshi, Cas Revenue : Shri Rajesh Kumar Yadav, Cit Dr Date Of Hearing : 13.08.2025 Date Of Pronouncement : 10.11.2025 O R D E R Per Girish Agrawal: This Appeal Filed By The Revenue Is Against The Order Of Cit (A) 50, Mumbai, Vide Order No. Itba/Apl/S/250/2025-26/1075632908(1), Dated 15.04.2025 Passed Against The Assessment Order By Acit,Cc- 8(4), Mumbai, U/S.143(3) Of The Income-Tax Act, 1961 (Hereinafter Referred To As The “Act”), Dated 24.08.2021 For Ay 2018-19. 2. Grounds Taken By The Revenue Are Reproduced As Under: “1. Whether On The Facts & In The Circumstances Of The Case, The Hon'Ble Cit(A) Was Justified In Law In Allowing Deduction Under Section 80-Ia(4) Of The Income- Tax Act, 1961, Without Adjusting The Losses Incurred By The Eligible Undertaking Prior To The Initial Assessment Year, Contrary To The Provisions Of Section 80-Ia(S)? 2. Whether The Hon'Ble Cit(A) Was Correct In Law In Relying Upon Cbdt Circular No. 1/2016 & The Decision Of The Hon'Ble Madras High Court In The Case Of Vcllayudhaswamy Spinning Mills Pvt. Ltd. (340 Itr 477) When There Exist Contrary Binding Judicial Precedents Mandating That Losses Of Earlier Years, Even

For Appellant: Shri Yogesh Thar and Shri Chaitanya Joshi, CAsFor Respondent: Shri Rajesh Kumar Yadav, CIT DR
Section 143(3)Section 37Section 80Section 80GSection 80I

…onally considered while computing eligible profits for deduction under section 80-IA 3. Whether the Hon'ble CIT(A) erred in law in ignoring the decision of the Ilon'ble, ITAT, Ahmedabad Special Bench in the case of CIT v. Goldmine Shares & Finance Pvt. Ltd. [ 113 ITD 209 (SB) (Ahd)], which mandate the adjustment of earlier years' losses while computing profits for deduction under section 80-IA? 4. Whether the Hon'ble CIT(A) was justified in law in granting deduction under section 80-IA(4) merely based on the assessee's discretion to choose the initial assessment year, overlooking the statutory requirement to comp…

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

…IC(7) r.w.s 8OIA(5) of the 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 qua…

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 4(1)(1), AHMEDABAD, AHMEDABAD vs. SHILP GRAVURES LIMITED, AHMEDABAD

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

ITA 798/AHD/2024[2017-18]Status: DisposedITAT Ahmedabad23 Aug 2024AY 2017-18

Bench: Income Tax Appellate Tribunal, Ahmedabad Division Bench, Ahmedabad Has Arisen

For Appellant: Shri S N Divatia, AdvocateFor Respondent: Shri Santosh Kumar, Sr.DR
Section 142(1)Section 143Section 143(1)Section 143(2)Section 143(3)Section 250Section 8Section 80I

…THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “DIVISION BENCH-A” AHMEDABAD Before: Shri Ramit Kochar, Accountant Member & Shri T. R. Senthil Kumar, Judicial Member Assessment Year: 2017-18 Deputy Shilp Gravures Limited, Commissioner of 101, Kashi Parekh Income Tax, v. Complex, B.H. Bhagwati Circle-4(1)(1), Chambers C.G. Road, A Wing, Room No. Navrangpura, A-410, 4th Floor Ahmedabad-380009, Pratyakash Kar Gujarat Bhawan, Pankrapole, PAN: AADCS0868G Ambawadi, Ahmedabad- (Respondent) 380015, Gujarat. (Appellant) Revenue by: Shri Santosh Kumar, Sr.DR Assessee by: Shri S N Divatia, Advocate Date of hearing : 31…

FATEHPURIA TRANSFORMERS AND WITCHGEARS PVT. LTD,JAIPUR vs. DCIT, CIRCLE-1, JAIPUR

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

ITA 387/JPR/2023[2011-12]Status: DisposedITAT Jaipur04 Dec 2023AY 2011-12

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Sh. Sanjeev Kumar MathurFor Respondent: Sh. A. S. Nehra (Addl. CIT)
Section 143(2)Section 143(3)Section 147Section 148Section 801ASection 801A(5)Section 80I

…ble business income, as the case may be, in earlier AYS itself. 8.11In this regard, reliance is place on the following judicial precedents: (i) Microlabs Ltd. vs. ACIT (2015) 56 taxmann.com 160 (Kar.) (ii) ACIT vs. Goldmine Shares and Finance Pvt. Ltd. (2008) 113 ITD 209 (Ahmd.) (SB) (iii) Khinvasara Investment Pvt. Ltd. vs. JCIT (2008) 110 ITD 198 (Pun.) (iv) CIT vs. Reliance Energy Ltd (2021) 127 taxmann.com 69 (SC) 8.12In all the above mentioned decisions, it has been categorically held by the various judicial authorities that profits and gains from the eligible business, for the purpose of determination of qu…

BSL LTD.,RAJASTHAN vs. DCIT, CENTRAL CIRCLE- 31, NEW DELHI

In the result, appeal of the assessee is allowed

ITA 6612/DEL/2018[2011-12]Status: DisposedITAT Delhi12 May 2023AY 2011-12

Bench: Sh. Anil Chaturvedi & Sh. Yogesh Kumar Usbsl Ltd., Vs. Dcit 26, Industrial Area, Central Circle-31, Post Box No. 17, New Delhi. Gandhi Nagar, Bhilwara, Rajasthan-311 001 Pan No. Aabcb0639G (Appellant) (Respondent) Assessee By Shri Satyajeet Goel, Adv. Revenue By Shri Kanv Bali, Sr. Dr Date Of Hearing: 03.05.2023 Date Of Pronouncement: 12.05.2023 Order Per Anil Chaturvedi, Am : This Appeal Filed By The Assessee Is Directed Against The Order Dated 29.08.2018 Of The Commissioner Of Income Tax (Appeals)-4, Kolkata Relating To Assessment Year 2011-12. 2. Assessee Is The Company Stated To Be Engaged In The Business Of Manufacturing & Trading Of Synthetic/Wollen/Worsted Yarn Fabrics & Synthetics Fabrics, Manufacturing & Trading Of Ready-Made Garments, Generation Of Power, Processing Of Synthetics Etc. Assessee Electronically Filed Its Return Of Income Bsl Ltd. Vs. Dcit 2

Section 115JSection 143(3)Section 801Section 80I

…ase of Velayudhaswamy Spinning Mills (P) Ltd. [231 CTR 368] (Mad.). The submissions of the assessee was not found acceptable to CIT(A). CIT(A) noted that a Special Bench of Ahmedabad Tribunal had decided the issue in favour of the Revenue which is reported in 113 ITD 209 (Ahmedabad) and Hon’ble Karnataka High Court in the case of Micropals Limited vs. ACIT [56 taxmann.com 160] (Karnataka) had also decided BSL Ltd. Vs. DCIT 5 the issue in favour of the Revenue. He, therefore, for the reasons noted in the order upheld the action of AO. 8. Aggrieved by the order of CIT(A), assessee is now before the Tribunal. 9. B…

DCIT, CIRCLE-24(2), NEW DELHI vs. STERLING AGRO INDS. LTD, NEW DELHI

In the result, the appeal filed by the Revenue is dismissed

ITA 584/DEL/2020[2016-17]Status: DisposedITAT Delhi22 Jul 2022AY 2016-17

Bench: Shri Shamim Yahya & Shri C.M. Gargassessment Year: 2016-17 Dcit, Vs. Sterling Agro Inds. Ltd., 11Th Floor, Circle-24(2), New Delhi. Agarwal Cyber Plaza-Ii, Netaji Subhash Place, New Delhi. Pan: Aaacs2278R (Appellant) (Respondent) Assessee By : Shri Amit Sharma, Advocate Revenue By : Shri Sanjay Kumar, Cit-Dr Date Of Hearing : 05.07.2022 Date Of Pronouncement : 22.07.2022 Order Per C.M. Garg, Jm: This Appeal Filed By The Revenue Is Directed Against The Order Of The Ld.Cit(A)-8, New Delhi, Dated 27.11.2019, Relating To Assessment Year 2016.- 17. 2. The Sole Ground Of Appeal Raised By The Revenue In This Appeal Reads As Follows:- “1. Whether On The Facts & Circumstances Of The Case & In Law, The Ld.Cit(A) Erred In Deleting The Addition Made By The Ao On Account Of Disallowance Of Deduction U/S 80Ia Of The Income-Tax Act, 1961 Amounting To Rs.12,63,07,697/-.”

For Appellant: Shri Amit Sharma, AdvocateFor Respondent: Shri Sanjay Kumar, CIT-DR
Section 5Section 801ASection 80I

…undertaking as no such mandate is provided in section 80-IA of the IT Act. 4.6 As far as, the Karnataka High Court Judgment so referred by the AO, the same was squarely relying on ITAT judgement in case of ACIT vs Goldmine Shares and Finance Pvt Ltd [(2008) (113 ITD 209 (AHD) (SB)], wherein the amendment brought in Finance Act, 1999 in section 80IA was not discussed. Furthermore, Karnataka High Court has also not considered its very own decision on the same matter in case of Sh. Anil H Lad [2014] 25 which was held in favour of the Assessee. 4.7 I also find that in the scrutiny assessment of 2013-14, 2014-15 and…

THE PRAJATANTRA PRACHAR SAMITY,CUTTACK vs. ACIT, CIRCLE-2(1), CUTTACK

In the result, appeals filed by the assessee stand allowed

ITA 80/CTK/2009[1993-94]Status: DisposedITAT Cuttack09 May 2022AY 1993-94

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpia

For Appellant: Shri S.K.Hota/Shri S.K,.AgarqwalFor Respondent: Shri S.C.Mohanty
Section 27

…ry (Kar, supra) is also per incurium for the same reason of ignoring the provision of the statute in the form of s. 292B of Income Tax Act. Hence the Tribunal is not P a g e 2 | 8 precluded from deciding the issue. ACIT v. Goldmine Shares and Finance P. Ltd. 113 ITD 209 (ITAT, SB-Ahd). 6. Kind attention of the hon'ble bench is drawn to subsections (3) and (4) of s. 268A of Income Tax Act. 7. Sundaram Finance Ltd. [2018] 259 Taxman 220 (SC): SLP dismissed.[2018] 403 ITR 407 (Madras): '4. ... the following additional substantial question of law is also framed for consideration: "Whether a notice issued under Secti…

THE PRAJATANTRA PRACHAR SAMITY,CUTTACK vs. ACIT, CIRCLE-2(1), CUTTACK

In the result, appeals filed by the assessee stand allowed

ITA 79/CTK/2009[1989-90]Status: DisposedITAT Cuttack09 May 2022AY 1989-90

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpia

For Appellant: Shri S.K.Hota/Shri S.K,.AgarqwalFor Respondent: Shri S.C.Mohanty
Section 27

…ry (Kar, supra) is also per incurium for the same reason of ignoring the provision of the statute in the form of s. 292B of Income Tax Act. Hence the Tribunal is not P a g e 2 | 8 precluded from deciding the issue. ACIT v. Goldmine Shares and Finance P. Ltd. 113 ITD 209 (ITAT, SB-Ahd). 6. Kind attention of the hon'ble bench is drawn to subsections (3) and (4) of s. 268A of Income Tax Act. 7. Sundaram Finance Ltd. [2018] 259 Taxman 220 (SC): SLP dismissed.[2018] 403 ITR 407 (Madras): '4. ... the following additional substantial question of law is also framed for consideration: "Whether a notice issued under Secti…

THE PRAJATANTRA PRACHAR SAMITY,CUTTACK vs. ACIT, CIRCLE-2(1), CUTTACK

In the result, appeals filed by the assessee stand allowed

ITA 78/CTK/2009[1985-86]Status: DisposedITAT Cuttack09 May 2022AY 1985-86

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpia

For Appellant: Shri S.K.Hota/Shri S.K,.AgarqwalFor Respondent: Shri S.C.Mohanty
Section 27

…ry (Kar, supra) is also per incurium for the same reason of ignoring the provision of the statute in the form of s. 292B of Income Tax Act. Hence the Tribunal is not P a g e 2 | 8 precluded from deciding the issue. ACIT v. Goldmine Shares and Finance P. Ltd. 113 ITD 209 (ITAT, SB-Ahd). 6. Kind attention of the hon'ble bench is drawn to subsections (3) and (4) of s. 268A of Income Tax Act. 7. Sundaram Finance Ltd. [2018] 259 Taxman 220 (SC): SLP dismissed.[2018] 403 ITR 407 (Madras): '4. ... the following additional substantial question of law is also framed for consideration: "Whether a notice issued under Secti…

PARKKOT MARITIME AGENCIES PRIVATE LIMITED.,GOA vs. JOINT COMMISSIONER OF INCOME TAX, MARGAO RANGE, MARGAO

In the result, both appeals filed by the assessee are allowed for statistical purposes

ITA 182/PAN/2015[2011-12]Status: DisposedITAT Panaji04 Oct 2021AY 2011-12

Bench: Shri Laliet Kumar, Jm & Dr. Mitha Lal Meena, Am

For Appellant: Shri S.V.Shivrama Iyer, CAFor Respondent: Shri Sourabh Nayak, Sr.DR
Section 5Section 80

…ation of hierarchy of jurisdiction. Reliance was placed by the Learned Commissioner of Income Tax (Appeals) on the judgement of the Income tax Appellate Tribunal in the matter of ACIT Circle (4) Ahmedabad Vs. Goldmine Shares and Finance Private Limited (2008) 113 ITD 209 (Ahmedabad) (Special Bench). The Honourable Madras High Court's decision in the case of • Velayudhaswamy Spinning Mills Private Limited Vs. ACTT (2012)340 ITR 477 (Madras) was ignored stating that Revenue's appeal in the same case is pending before the Honourable Supreme Court of India. This matter has again decision of Commissioner of Income Tax…

PARKKOT MARITIME AGENCIES PRIVATE LIMITED.,GOA vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-2, MARGAO., MARGAO

In the result, both appeals filed by the assessee are allowed for statistical purposes

ITA 181/PAN/2015[2010-11]Status: DisposedITAT Panaji04 Oct 2021AY 2010-11

Bench: Shri Laliet Kumar, Jm & Dr. Mitha Lal Meena, Am

For Appellant: Shri S.V.Shivrama Iyer, CAFor Respondent: Shri Sourabh Nayak, Sr.DR
Section 5Section 80

…ation of hierarchy of jurisdiction. Reliance was placed by the Learned Commissioner of Income Tax (Appeals) on the judgement of the Income tax Appellate Tribunal in the matter of ACIT Circle (4) Ahmedabad Vs. Goldmine Shares and Finance Private Limited (2008) 113 ITD 209 (Ahmedabad) (Special Bench). The Honourable Madras High Court's decision in the case of • Velayudhaswamy Spinning Mills Private Limited Vs. ACTT (2012)340 ITR 477 (Madras) was ignored stating that Revenue's appeal in the same case is pending before the Honourable Supreme Court of India. This matter has again decision of Commissioner of Income Tax…

PETRONET LNG LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

Appeal of the assessee is allowed

ITA 5232/DEL/2015[2011-12]Status: DisposedITAT Delhi18 Mar 2021AY 2011-12

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

For Appellant: Sh. Vishal Kalra, AdvFor Respondent: Sh. H. K. Choudhary, CIT DR
Section 14ASection 234C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘G’, NEW DELHI Before Sh. Sudhanshu Srivastava, Judicial Member Dr. B. R. R. Kumar, Accountant Member (Through Video Conferencing) ITA No. 5230/Del/2015 : Asstt. Year : 2009-10 ITA No. 5231/Del/2015 : Asstt. Year : 2010-11 ITA No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet LNG Ltd., Vs Deputy Commissioner of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (APPELLANT) (RESPONDENT) PAN No. AAACP8148D ITA No. 4902/Del/2015 : Asstt. Year : 2009-10 ITA No. 4903/Del/2015 : Asstt. Year : 2010-11…

PETRONET LNG LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

Appeal of the assessee is allowed

ITA 5231/DEL/2015[2010-11]Status: DisposedITAT Delhi18 Mar 2021AY 2010-11

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

For Appellant: Sh. Vishal Kalra, AdvFor Respondent: Sh. H. K. Choudhary, CIT DR
Section 14ASection 234C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘G’, NEW DELHI Before Sh. Sudhanshu Srivastava, Judicial Member Dr. B. R. R. Kumar, Accountant Member (Through Video Conferencing) ITA No. 5230/Del/2015 : Asstt. Year : 2009-10 ITA No. 5231/Del/2015 : Asstt. Year : 2010-11 ITA No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet LNG Ltd., Vs Deputy Commissioner of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (APPELLANT) (RESPONDENT) PAN No. AAACP8148D ITA No. 4902/Del/2015 : Asstt. Year : 2009-10 ITA No. 4903/Del/2015 : Asstt. Year : 2010-11…

PETRONET LNG LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

Appeal of the assessee is allowed

ITA 5230/DEL/2015[2009-10]Status: DisposedITAT Delhi18 Mar 2021AY 2009-10

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

For Appellant: Sh. Vishal Kalra, AdvFor Respondent: Sh. H. K. Choudhary, CIT DR
Section 14ASection 234C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘G’, NEW DELHI Before Sh. Sudhanshu Srivastava, Judicial Member Dr. B. R. R. Kumar, Accountant Member (Through Video Conferencing) ITA No. 5230/Del/2015 : Asstt. Year : 2009-10 ITA No. 5231/Del/2015 : Asstt. Year : 2010-11 ITA No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet LNG Ltd., Vs Deputy Commissioner of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (APPELLANT) (RESPONDENT) PAN No. AAACP8148D ITA No. 4902/Del/2015 : Asstt. Year : 2009-10 ITA No. 4903/Del/2015 : Asstt. Year : 2010-11…

DCIT, NEW DELHI vs. M/S. PETRONET LNG LTD., NEW DELHI

Appeal of the assessee is allowed

ITA 4904/DEL/2015[2011-12]Status: DisposedITAT Delhi18 Mar 2021AY 2011-12

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

For Appellant: Sh. Vishal Kalra, AdvFor Respondent: Sh. H. K. Choudhary, CIT DR
Section 14ASection 234C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘G’, NEW DELHI Before Sh. Sudhanshu Srivastava, Judicial Member Dr. B. R. R. Kumar, Accountant Member (Through Video Conferencing) ITA No. 5230/Del/2015 : Asstt. Year : 2009-10 ITA No. 5231/Del/2015 : Asstt. Year : 2010-11 ITA No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet LNG Ltd., Vs Deputy Commissioner of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (APPELLANT) (RESPONDENT) PAN No. AAACP8148D ITA No. 4902/Del/2015 : Asstt. Year : 2009-10 ITA No. 4903/Del/2015 : Asstt. Year : 2010-11…

DCIT, NEW DELHI vs. M/S. PETRONET LNG LTD., NEW DELHI

Appeal of the assessee is allowed

ITA 4903/DEL/2015[2010-11]Status: DisposedITAT Delhi18 Mar 2021AY 2010-11

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

For Appellant: Sh. Vishal Kalra, AdvFor Respondent: Sh. H. K. Choudhary, CIT DR
Section 14ASection 234C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘G’, NEW DELHI Before Sh. Sudhanshu Srivastava, Judicial Member Dr. B. R. R. Kumar, Accountant Member (Through Video Conferencing) ITA No. 5230/Del/2015 : Asstt. Year : 2009-10 ITA No. 5231/Del/2015 : Asstt. Year : 2010-11 ITA No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet LNG Ltd., Vs Deputy Commissioner of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (APPELLANT) (RESPONDENT) PAN No. AAACP8148D ITA No. 4902/Del/2015 : Asstt. Year : 2009-10 ITA No. 4903/Del/2015 : Asstt. Year : 2010-11…

DCIT, NEW DELHI vs. M/S. PETRONET LNG LTD., NEW DELHI

Appeal of the assessee is allowed

ITA 4902/DEL/2015[2009-10]Status: DisposedITAT Delhi18 Mar 2021AY 2009-10

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

For Appellant: Sh. Vishal Kalra, AdvFor Respondent: Sh. H. K. Choudhary, CIT DR
Section 14ASection 234C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘G’, NEW DELHI Before Sh. Sudhanshu Srivastava, Judicial Member Dr. B. R. R. Kumar, Accountant Member (Through Video Conferencing) ITA No. 5230/Del/2015 : Asstt. Year : 2009-10 ITA No. 5231/Del/2015 : Asstt. Year : 2010-11 ITA No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet LNG Ltd., Vs Deputy Commissioner of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (APPELLANT) (RESPONDENT) PAN No. AAACP8148D ITA No. 4902/Del/2015 : Asstt. Year : 2009-10 ITA No. 4903/Del/2015 : Asstt. Year : 2010-11…

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 6(2), MUMBAI vs. PUNIT CONSTRUCTION COMPANY, MUMBAI

In the result, appeal of the Revenue is dismissed

ITA 6503/MUM/2018[2012-13]Status: DisposedITAT Mumbai28 Nov 2019AY 2012-13

Bench: Shri C.N. Prasad, Hon'Ble & Shri G. Manjunatha, Hon'Ble

For Appellant: Ms. Neelam C. JadhavFor Respondent: Kumar Padmapani Bora
Section 80I

…profit or loss of other units. This legal proposition is strengthened by the decision of ITAT, Ahmadabad, special bench in the case of CIT vs. Goldmine Shares 5 ITA.NO. 6503/MUM/2018 (A.Y: 2012-13) M/s. Punit Construction Company and Finance Pvt. Ltd. (2008) 113 ITD 209 and also the ITAT Bangalore in the case of Jindal Aluminium Ltd. Vs. ACIT (2012) 19 ITR (T) 255. 13. In this case, the assessee is into two segment of business i.e. construction business which is non eligible and power generation business which is eligible business u/s 80IA of the Act. Admittedly, the assessee has set up 5 wind mills out of which…

THE ACIT, CIRCLE - 1,, RAJAHMUNDRY vs. THE ANDHRA PRADESH PAPER MILLS LTD.,, HYDERABAD

In the result, appeals filed by the Revenue are partly allowed and the cross objections filed by the assessee are partly allowed

ITA 6/VIZ/2014[2009-10]Status: DisposedITAT Visakhapatnam30 Oct 2019AY 2009-10

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

For Appellant: Shri T.M. Shiv Kumar – AdvFor Respondent: Shri T.S.N. Murthy – CIT DR
Section 263Section 32

…business, even though they have been allowed to be set off against the other income in earlier years in view of the specific provisions of section 801A(5), as laid down by the Special Bench, Ahmadabad in the case of ACIT Vs. Mines Shares & Finance Pvt. Ltd, (113 ITD 209). Hence, we direct the assessing officer to compute the 15 ITA Nos. 4-6/VIZ/2014 C.O.Nos.13-15/VIZ/2016 (The Andhra Pradesh Paper Mills Ltd.) deduction u/s 801A as laid down by provisions of the Income Tax Act, 1961.” 7.5 From the aforementioned facts and evidence and also referring to the direct order of the honourable ITAT in the case of the…

THE ACIT, CIRCLE - 1,, RAJAHMUNDRY vs. THE ANDHRA PRADESH PAPER MILLS LTD.,, HYDERABAD

In the result, appeals filed by the Revenue are partly allowed and the cross objections filed by the assessee are partly allowed

ITA 5/VIZ/2014[2008-09]Status: DisposedITAT Visakhapatnam30 Oct 2019AY 2008-09

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

For Appellant: Shri T.M. Shiv Kumar – AdvFor Respondent: Shri T.S.N. Murthy – CIT DR
Section 263Section 32

…business, even though they have been allowed to be set off against the other income in earlier years in view of the specific provisions of section 801A(5), as laid down by the Special Bench, Ahmadabad in the case of ACIT Vs. Mines Shares & Finance Pvt. Ltd, (113 ITD 209). Hence, we direct the assessing officer to compute the 15 ITA Nos. 4-6/VIZ/2014 C.O.Nos.13-15/VIZ/2016 (The Andhra Pradesh Paper Mills Ltd.) deduction u/s 801A as laid down by provisions of the Income Tax Act, 1961.” 7.5 From the aforementioned facts and evidence and also referring to the direct order of the honourable ITAT in the case of the…

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Ahmadabad in ACIT v. Goldmine Shares & Finance (P.) Ltd. (113 ITD 209) — Cited in 37 Judgments | BharatTax