Alfa Laval India Ltd. v. DCIT (266 ITR 418)

NIHON PARKERIZING (INDIA) PVT. LTD.,,GURGAON vs. DCIT CIRCLE-18(1), NEW DELHI

The Appeal of the assessee is partly allowed

ITA 5441/DEL/2019[2013-14]Status: DisposedITAT Delhi10 Jul 2024AY 2013-14

Bench: Sh. Pradip Kumar Kedia & Shri Yogesh Kumar U.S.I.T.A. No. 5441/Del/2019 (A.Y 2013-14)

Section 142(1)Section 143(2)Section 40Section 40a

…y was not usable in future and was produced before AO and consequently claimed deduction for the obsolete inventory written off u/s 37(1) of the Act and relied upon the decision rendered by Hon'ble Bombay High Court in case of Alfa Laval India Ltd. vs. DCIT - 266 ITR 418 (Bom.), affirmed by the Hon'ble Supreme Court by judgment reported in 295 ITR 451. The ld. AR for the taxpayer also contended that the taxpayer has submitted audit report of an independent auditor prepared on the basis of physical verification and maintenance of inventory during assessment proceedings and further relied upon the decision rendered…

RACOLD THERMO PRIVATE LIMITED,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-8, PUNE, PUNE

In the result, the appeal of assessee is partly allowed for statistical purpose

ITA 134/PUN/2023[2015-16]Status: DisposedITAT Pune09 Aug 2023AY 2015-16

Bench: Shri Inturi Rama Rao & Shri S.S. Viswanethra Ravi

For Appellant: Shri Ketan VedFor Respondent: Shri M.G. Jasnani

Section 37

…आयकर अपीलीय अधिकरण “बी” न्यायपीठ पुणे में । IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI S.S. VISWANETHRA RAVI, JUDICIAL MEMBER आयकर अपील सं. / ITA No.134/PUN/2023 धििाारण वर्ा / Assessment Year : 2015-16 Racold Thermo Private Limited, Gat No. 264/265, 374/376 Talegaon Road, Chakan, Pune – 410501 PAN : AAECM0766G .......अपीलार्थी / Appellant बिाम / V/s. The Deputy Commissioner of Income Tax, Circle – 8, Pune ……प्रत्यर्थी / Respondent Assessee by : Shri Ketan Ved Revenue by : Shri M.G. Jasnani सुिवाई की तारीख / Date of Hearing : 08-08-2023 घोर…

MMTC LTD. vs. DCIT, CIRCLE-5(1),,

The appeal is allowed, with aforesaid consequences, as directed in ground wise findings

ITA 1722/DEL/2006[2003-2004]Status: DisposedITAT Delhi30 Jun 2023AY 2003-2004

Bench: Sh. G.S.Pannu, Hon’Ble & Sh. Anubhav Sharmam/S. Mmtc Ltd., Scope Vs. Dcit, Complex, Circle-5(1) Core 1,7, Institutional Area, New Delhi Lodhi Road, New Delhi- 110003 Pan : (Appellant) (Respondent)

Section 143(3)Section 44ASection 80Section 80H

…: 284 ITR 584 3. Pearl Polymers Limited : 80 ITD 1 (SB) (Del.) 4. Harisons Malayalam Limited V. DCIT : 60 ITD 306 (Coch.) 5. CIT vs. Parry Agro Industries Ltd. : 257 ITR 41 (Ker) 6. Rajeev Enterprises V. AO : 261 ITR (AT) 34 7.Alfa Laval India Ltd. vs. DCIT : 266 ITR 418 (Bom.) 8. CIT vs. Bangalore Clothing Co. : 260 ITR 371 9. CIT vs. kar Mobiles Ltd. : 333 ITR 478 (Ker) 10. CIT vs. Sociedade de Fomento Industrial Ltd. 335 ITR 472 (Bom) 11. DCIT vs. B.A. Aswathaiah & Bros. : 72 TTJ 714 (Bang.) 12. Kadra Mills (CBE) Ltd. v. JCIT : 76 TTJ 38 (Chennai) 13. Mitsu Ltd. v. Asstt. CIT : 142 ITD 157 (Ahd.) 14. ACIT vs.…

DCIT CIR. 6 (3), MUMBAI vs. M/S. GRASIM INDUSTRIES LTD., MUMBAI

In the result, the appeal by the Revenue is dismissed

ITA 4337/MUM/2005[2004-2005]Status: DisposedITAT Mumbai23 Jun 2023AY 2004-2005

Bench: Shri Amarjit Singh & Shri Sandeep Singh Karhail

For Appellant: Shri J.D. Mistri a/wFor Respondent: Dr. Kishore Dhule

Section 142(1)Section 143(2)Section 143(3)Section 250Section 43BSection 80Section 80HSection 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI AMARJIT SINGH, ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA no.3439/Mum./2005 (Assessment Year : 2004–05) Grasim Industries Ltd. (Corporate Finance Division) A–2, Aditya Birla Centre ……………. Appellant S.K. Ahire Marg, Worli Mumbai 400 030 PAN – AAACG4464B v/s Dy. Commissioner of Income Tax ……………. Respondent Circle–6(3), Mumbai ITA no.4337/Mum./2005 (Assessment Year : 2004–05) Dy. Commissioner of Income Tax ……………. Appellant Circle–6(3), Mumbai v/s Grasim Industries Ltd. Century Bhavan, 3rd Floor ……………. Respondent Dr. A.B.…

M/S. GRASIM INDUSTRIES LTD.,MUMBAI vs. DCIT CIT CIR. 6(3), MUMBAI

In the result, the appeal by the Revenue is dismissed

ITA 3439/MUM/2005[2004-2005]Status: DisposedITAT Mumbai23 Jun 2023AY 2004-2005

Bench: Shri Amarjit Singh & Shri Sandeep Singh Karhail

For Appellant: Shri J.D. Mistri a/wFor Respondent: Dr. Kishore Dhule

Section 142(1)Section 143(2)Section 143(3)Section 250Section 43BSection 80Section 80HSection 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI AMARJIT SINGH, ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA no.3439/Mum./2005 (Assessment Year : 2004–05) Grasim Industries Ltd. (Corporate Finance Division) A–2, Aditya Birla Centre ……………. Appellant S.K. Ahire Marg, Worli Mumbai 400 030 PAN – AAACG4464B v/s Dy. Commissioner of Income Tax ……………. Respondent Circle–6(3), Mumbai ITA no.4337/Mum./2005 (Assessment Year : 2004–05) Dy. Commissioner of Income Tax ……………. Appellant Circle–6(3), Mumbai v/s Grasim Industries Ltd. Century Bhavan, 3rd Floor ……………. Respondent Dr. A.B.…

DCIT CIR 6(3), MUMBAI vs. M/S. GRASIM INDUSTRIES LTD., MUMBAI

In the result, the appeal by the Revenue is partly allowed for statistical purposes

ITA 5978/MUM/2004[2003-2004]Status: DisposedITAT Mumbai13 Jun 2023AY 2003-2004

Bench: Shri Amarjit Singh & Shri Sandeep Singh Karhail

For Appellant: Shri J.D. Mistry a/wFor Respondent: Dr. Kishore Dhule

Section 142(1)Section 143(3)Section 250Section 43BSection 80Section 80H

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI AMARJIT SINGH, ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA no.4754/Mum./2004 (Assessment Year : 2003–04) Grasim Industries Ltd. Aditya Birla Centre “A” Wing, 2nd Floor Ahire Marg ……………. Appellant Worli, Mumbai 400 025 PAN – AAACG4464B v/s Dy. Commissioner of Income Tax ……………. Respondent Range–6(3), Mumbai ITA no.5978/Mum./2004 (Assessment Year : 2003–04) Dy. Commissioner of Income Tax ……………. Appellant Circle–6(3), Mumbai v/s Grasim Industries Ltd. Aditya Birla Centre “A” Wing, 2nd Floor Ahire Marg ……………. Respondent Wor…

GRASIM INDUSTRIES LTD.,MUMBAI vs. DCIT RANGE 6(3), MUMBAI

In the result, the appeal by the Revenue is partly allowed for statistical purposes

ITA 4754/MUM/2004[2003-04]Status: DisposedITAT Mumbai13 Jun 2023AY 2003-04

Bench: Shri Amarjit Singh & Shri Sandeep Singh Karhail

For Appellant: Shri J.D. Mistry a/wFor Respondent: Dr. Kishore Dhule

Section 142(1)Section 143(3)Section 250Section 43BSection 80Section 80H

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI AMARJIT SINGH, ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA no.4754/Mum./2004 (Assessment Year : 2003–04) Grasim Industries Ltd. Aditya Birla Centre “A” Wing, 2nd Floor Ahire Marg ……………. Appellant Worli, Mumbai 400 025 PAN – AAACG4464B v/s Dy. Commissioner of Income Tax ……………. Respondent Range–6(3), Mumbai ITA no.5978/Mum./2004 (Assessment Year : 2003–04) Dy. Commissioner of Income Tax ……………. Appellant Circle–6(3), Mumbai v/s Grasim Industries Ltd. Aditya Birla Centre “A” Wing, 2nd Floor Ahire Marg ……………. Respondent Wor…

B G EXPLORATION & PRODUCTION INDIA LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME, DDIT/ ADIT (INTERNATIONAL TAXATION), CIRCLE-1, DEHRADUN, DEHRADUN

In the result, both the appeals of the assessee are allowed

ITA 47/DDN/2022[2018-19]Status: DisposedITAT Dehradun27 Dec 2022AY 2018-19

Bench: Sh. Kul Bharatdr. B. R. R. Kumar

For Appellant: Sh. Ajay Vohra, Sr. AdvFor Respondent: Sh. Mayak Kumar, JCIT, DR

Section 143(3)Section 144C(5)

…endent auditor is available), no disallowance can be made with respect to the loss on account of inventory written-off 48. Attention in this regard is invited to the decision of the jurisdictional Bombay High Court in case of Alfa Laval India Ltd. v/s. DCIT (266 ITR 418) (Bom) (which has been affirmed by the Supreme Court report in (295 ITR 451) where in a similar circumstances while allowing the claim of deduction of obsolete inventory the High Court has held that: “where there is no dispute that the duly certified auditor's report placed before the Assessing Officer clearly justified valuation of obsolete ite…

B G EXPLORATION & PRODUCTION INDIA LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME, DDIT/ ADIT (INTERNATIONAL TAXATION), CIRCLE-1, DEHRADUN, DEHRADUN, UTTARAKHAND

In the result, both the appeals of the assessee are allowed

ITA 13/DDN/2022[2015-16]Status: DisposedITAT Dehradun27 Dec 2022AY 2015-16

Bench: Sh. Kul Bharatdr. B. R. R. Kumar

For Appellant: Sh. Ajay Vohra, Sr. AdvFor Respondent: Sh. Mayak Kumar, JCIT, DR

Section 143(3)Section 144C(5)

…endent auditor is available), no disallowance can be made with respect to the loss on account of inventory written-off 48. Attention in this regard is invited to the decision of the jurisdictional Bombay High Court in case of Alfa Laval India Ltd. v/s. DCIT (266 ITR 418) (Bom) (which has been affirmed by the Supreme Court report in (295 ITR 451) where in a similar circumstances while allowing the claim of deduction of obsolete inventory the High Court has held that: “where there is no dispute that the duly certified auditor's report placed before the Assessing Officer clearly justified valuation of obsolete ite…

RACOLD THERMO PVT.LTD,(FORMERLY KNOW AS RACOLD THERMO LIMITED),,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 10,, PUNE

In the result, the appeal filed by the assessee stands partly allowed for statistical purposes

ITA 681/PUN/2018[2013-14]Status: DisposedITAT Pune20 Jul 2022AY 2013-14

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपील सं. / Ita No.681/Pun/2018 िनधा"रण वष" / Assessment Year: 2013-14 Racold Thermo Pvt. Ltd. Vs. Acit, Circle-10, Pune. (Formerly Known As Racold Thermo Limited), Gat No.265/374-376, Kharabwadi, Chakan- Talegaon Road, Tal. Khed, Chakan, Pune- 410501. Pan : Aaecm0766G Appellant Respondent Assessee By : Shri Ketan Ved Revenue By : Shri Arvind Desai Date Of Hearing : 18.07.2022 Date Of Pronouncement : 20.07.2022 आदेश / Order Per Inturi Rama Rao, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of Ld. Commissioner Of Income Tax (Appeals)-6, Pune [‘The Cit(A)’] Dated 14.02.2018 For The Assessment Year 2013-14. 2. The Appellant Raised The Following Grounds Of Appeal :- “1 : 0 Re.: Disallowance Of Provision For Obsolescence Of Inventory :

For Appellant: Shri Ketan VedFor Respondent: Shri Arvind Desai

Section 143(3)

…the provision for obsolete items is clearly allowable, in view of the settled position of law that inventory should be valued at cost or market price whichever is lower in view of decision of Hon’ble Bombay High Court in the case of Alfa Laval India Vs. DCIT 266 ITR 418 is clearly applicable, wherein the Hon’ble Bombay High Court has held as under: “8. In the present case, there is no dispute that the duly certified auditor's report placed before the AO clearly justified valuation of obsolete items at 10 per cent of cost. There is no dispute that the assessee is entitled to value the closing stock at market valu…

RACOLD THERMO PRIVATE LIMITED,(FORMERLY KNOW AS RACOLD THERMO LIMITED),,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 10,, PUNE

In the result, the appeal of the assessee is Allowed for Statistical

ITA 2654/PUN/2017[2012-13]Status: DisposedITAT Pune12 May 2022AY 2012-13

Bench: Shri Partha Sarathi Chaudhury, Jm & Dr. Dipak P. Ripote, Am आयकरअपीलसं. / Ita No.2654/Pun/2017 िनधा"रणवष" / Assessment Year : 2012-13 Racoldthermo Private Limited The Assistant Commissioner Of (Formerly Known As Racoldthermo Vs Income Tax, Circle-10, Limited), Pune. Gat No.265/374-376, Kharabwadi, Chakan-Talegaon Road, Tal.Khed, Chakan, Pune - 410501. Pan No. Aaecm 0766 G Appellant/ Assessee Respondent /Revenue Assessee By Shri Ketan Ved- Ar Revenue By Shri S.P.Walimbe- Dr Date Of Hearing 25/03/2022 Date Of Pronouncement 12/05/2022 आदेश/ Order Per: Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of Ld.Commissioner Of Income Tax(Appeals)-6, Pune,(In Short, The Cit(A) In Appeal No.Pn/Cit(A)-V/Acit Cir-10/103/2016-17Dated 30/08/2017 For The Assessment Year 2012-13.The Assessee Has Raised Following Grounds Of Appeal: “1:0 Re: Disallowance Of Provision For Obsolescence Of Inventory: 1:1 The Commissioner Of Income Tax (Appeals) Has Erred In Confirming The Disallowance On Account Of Provision For Obsolescence Of Inventory Amounting To Rs. 60,00,000/-. 1:2 The Appellant Submits That Considering The Facts & Circumstances Of Its Case & The Law Prevailing On The Subject, No Disallowance Whatsoever Is Called For Out Of The Provision Made By The Appellant For Obsolescence Of Inventory & The Stand Taken By The Assessing Officer In This Regard Is Erroneous & Not In Accordance With Law & The Commissioner Of Income Tax (Appeals) Ought To Have Held As Under: 1:3 The Appellant Submits That The Assessing Officer Be Directed To Delete The Disallowance & To Re-Compute Its Total Income Accordingly.

…cost or market price or net realizable value, whichever is less. Thus, this ground of appeal is allowed for statistical purposes.” ” Unquote. The Hon’ble ITAT Pune has followed the Hon’ble Bombay High Court’s decision in the case of Alfa Laval India vs. DCIT 266 ITR 418. 5.2 As mentioned earlier the issue involved is same. Hence, respectfully following the order of Hon’ble ITAT(supra) we remand the issue to the file of the Assessing Officer with a direction that the provision for obsolete stock to be allowed as deduction subject to Assessing Officer himself satisfying that the valuation is done based on the prin…

BG EXPLORATION & PRODUCTION INDIA LIMITED,MUMBAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX, DDIT/ADIT (INTERNATIONAL TAXATION), CIRCLE -1, DEHRADUN

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

ITA 5/DDN/2022[2017-2018]Status: DisposedITAT Dehradun31 Mar 2022AY 2017-2018

For Appellant: Shri Ajay Vohra, Sr. Advocate &For Respondent: Shri T.S. Mapwal, Sr. DR

Section 143(3)Section 144C(13)Section 92C

…was not usable in future and was produced before AO and consequently claimed deduction for the obsolete inventory written off u/s 37(1) of the Act and relied upon the decision rendered by Hon’ble Bombay High Court in case of Alfa Laval India Ltd . vs . DCIT – 266 ITR 418 (Bom.), affirmed by the Hon’ble Supreme Court by judgment reported in 295 ITR 451. The ld. AR for the taxpayer also contended that the taxpayer has submitted audit report of an independent auditor prepared on the basis of physical verification and maintenance of inventory during assessment proceedings and further relied upon the decision rendered…

RACOLD THERMO PRIVATE LIMITED (FORMERLY KNOWN AS RACOLD THERMO LIMITED),,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX,,

In the result, the appeal filed by assessee stands partly allowed for statistical purposes

ITA 2920/PUN/2016[2009-10]Status: DisposedITAT Pune22 Mar 2022AY 2009-10

Bench: Shri Inturi Rama Rao & Shri S.S. Viswanethra Ravi

For Respondent: Shri Ketan Ved

Section 143(3)

…a part of finished goods has become obsolete or not and it also adopted a methodology for identification of obsolete finished goods, etc. Thus, the provision for obsolete items is decision of Hon’ble Bombay High Court in the case of Alfa Laval India Vs. DCIT 266 ITR 418 is clearly applicable, wherein the Hon’ble Bombay High Court has held as under: “8. In the present case, there is no dispute that the duly certified auditor's report placed before the AO clearly justified valuation of obsolete items at 10 per cent of cost. There is no dispute that the assessee is entitled to value the closing stock at market valu…

RACOLD THERMO PRIVATE LIMITED (FORMERLY KNOWN AS RACOLD THERMO LIMITED),,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX,, PUNE

In the result, the appeal filed by assessee stands partly allowed for statistical purposes

ITA 499/PUN/2017[2011-12]Status: DisposedITAT Pune22 Mar 2022AY 2011-12

Bench: Shri Inturi Rama Rao & Shri S.S. Viswanethra Ravi

For Respondent: Shri Ketan Ved

Section 143(3)

…a part of finished goods has become obsolete or not and it also adopted a methodology for identification of obsolete finished goods, etc. Thus, the provision for obsolete items is decision of Hon’ble Bombay High Court in the case of Alfa Laval India Vs. DCIT 266 ITR 418 is clearly applicable, wherein the Hon’ble Bombay High Court has held as under: “8. In the present case, there is no dispute that the duly certified auditor's report placed before the AO clearly justified valuation of obsolete items at 10 per cent of cost. There is no dispute that the assessee is entitled to value the closing stock at market valu…

BG EXPLORATION & PRODUCTION INDIA LIMITED,MUMBAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX DDIT/ADIT (INTERNATIONAL TAXATION ) CIRCLE-1, DEHRADUN

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

ITA 7/DDN/2021[2016-17]Status: DisposedITAT Dehradun14 Dec 2021AY 2016-17

Bench: Shri R.K. Panda & Shri V.P. Raoassessment Years: 2016-17

For Appellant: Sh. Ajay Vohra, Sr. AdvocateFor Respondent: Sh. N.S. Jangpangi, CIT/DR

Section 143(3)Section 144C(13)Section 144C(5)Section 44C

…y was not usable in future and was produced before AO and consequently claimed deduction for the obsolete inventory written off u/s 37(1) of the Act and relied upon the decision rendered by Hon’ble Bombay High Court in case of Alfa Laval India Ltd. vs. DCIT – 266 ITR 418 (Bom.), affirmed by the Hon’ble Supreme Court by judgment reported in 295 ITR 451. The ld. AR for the taxpayer also contended that the taxpayer has submitted audit report of an independent auditor prepared on the basis of physical verification and maintenance of inventory during assessment proceedings and further relied upon the decision rendered…

GRASIM INDUSTRIES LTD. vs. ADDL. CIT RANGE 6(3),

In the result, appeal filed by the assesse and revenue are partly allowed

ITA 4753/MUM/2004[2002-03]Status: DisposedITAT Mumbai14 Dec 2021AY 2002-03

Bench: Shri Saktijit Dey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blegrasim Industries Limited V. Addl. Cit, Range 6(3) Corporate Finance Division 5Th Floor, Room No. 505 Aditya Birla Centre “A” Wing Aayakar Bhavan 2Nd Floor, S.K. Ahire Marg, Worli Mumbai Mumbai-400025 Pan: Aaacg4464B Appellant Respondent Dy. Cit, Range 6(3), V. Grasim Industries Limited, 5Th Floor, Room No. 505, Corporate Finance Division, Aayakar Bhavan, Aditya Birla Centre, “A” Wing, Mumbai-20. 2Nd Floor, S.K. Ahire Marg Worli, Mumbai-400025 Pan: Aaacg4464B Appellant Respondent Assessee By : Shri J.D. Mistry Revenue By : Shri Sandeep Raj & Shri Vijay Kumar Menon

For Appellant: Shri J.D. MistryFor Respondent: Shri Sandeep Raj &

Section 143(3)Section 36(1)(vii)Section 43BSection 80Section 80H

…IN THE INCOME TAX APPELLATE TRIBUNAL (VIRTUAL COURT) “G” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, HON'BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER Grasim Industries Limited v. Addl. CIT, Range 6(3) Corporate Finance Division 5th floor, Room No. 505 Aditya Birla Centre “A” Wing Aayakar Bhavan 2nd floor, S.K. Ahire Marg, Worli Mumbai Mumbai-400025 PAN: AAACG4464B Appellant Respondent Dy. CIT, Range 6(3), v. Grasim Industries Limited, 5th floor, Room No. 505, Corporate Finance Division, Aayakar Bhavan, Aditya Birla Centre, “A” Wing, Mumbai-20. 2nd floor, S.K. Ahire Marg Worli, Mumbai-40002…

DCIT 1(1)(1), MUMBAI vs. CONCORDE MOTORS (INDIA) LTD, MUMBAI

In the result, appeal of the assessee is dismissed

ITA 2333/MUM/2017[2012-13]Status: DisposedITAT Mumbai01 Oct 2019AY 2012-13

Bench: Shri R.C. Sharma & Shri Pawan Singhacit-1(1)(1) M/S. Concorde Motors (India) Ltd., 3Rd Floor, Nanavati 579, Aayakar Bhawan, M. K. Road, Vs. Mahalaya, 18, Homy Modi Street, Mumbai-400020. Hutatma Chowk, Mumbai-400001. Pan: Aaacm0154A Appellant Respondent

For Appellant: Shri Abi Rama Karthikeyan (Sr DR)For Respondent: Shri Rajan Vora with Shri Nikhil Tiwari (AR)

Section 115JSection 143(3)Section 2Section 254(1)

…IN THE INCOME-TAX APPELLATE TRIBUNAL “C” BENCH MUMBAI BEFORE SHRI R.C. SHARMA, ACCOUNTANT MEMBER AND SHRI PAWAN SINGH JUDICIAL MEMBER ACIT-1(1)(1) M/s. Concorde Motors (India) Ltd., 3rd Floor, Nanavati 579, Aayakar Bhawan, M. K. Road, Vs. Mahalaya, 18, Homy Modi Street, Mumbai-400020. Hutatma Chowk, Mumbai-400001. PAN: AAACM0154A Appellant Respondent Appellant by : Shri Abi Rama Karthikeyan (Sr DR) Respondent by : Shri Rajan Vora with Shri Nikhil Tiwari (AR) Date of Hearing : 05.09.2019 Date of Pronouncement : 01.10.2019 ORDERUNDER SECTION 254(1)OF INCOME TAX ACT PER PAWAN SINGH, JUDICIAL MEMBER; 1. Thi…

M/S. KAMAL OIL INDUSTRIES,,MEHSANA vs. THE JT.CIT, PATAN RANGE,, PATAN

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

ITA 2158/AHD/2014[2010-11]Status: DisposedITAT Ahmedabad19 Sept 2019AY 2010-11

Bench: Shri O. P Meena & Ms Madhumita Royआ.अ.सं/.I.T.A No.2158/Ahd/2014 िनधा"रणवष"/Assessment Year:2010-11 बनाम M/S. Kamal Oil Industries, Joint Commissioner Of Budasan Kadi Kalol Road, Vs. Income-Tax, Range Kadi 382 715 District- Patan, Mehsana Mehsana Pan: Aabfk 8786 C अपीलाथ" Appellant ""यथ"/Respondent

…19.53 per kg. as they were not of good quality. The learned counsel for the assessee placed reliance in the case of DCIT v. Loil Health Foods Ltd. [2017] 82 taxmann.com 324 (Chandigarh-Trib) and Alfa Laval India Ltd. v. DCIT [2003] 133 Taxman 740 (Bombay)/ 266 ITR 418 (Bombay) in support of his claim. Kamal Oil Industries v. JCIT-Range-Patan, Mehsana /I.T.A.No. 2158/AHD/2014/AY10-11 6 Au contraire, the ld. Sr. D.R. supported the order of the lower 6. authorities. The ld. Sr. D.R. submitted that the AO has applied LIFO method of valuation and has arrived at correct finding. The assessee has not been able to…

M/S. FAG BEARINGS INDIA LTD.,BARODA vs. THE ACIT, CIRCLE-1(2),, BARODA

ITA 799/AHD/2016[2008-09]Status: DisposedITAT Ahmedabad30 Apr 2019AY 2008-09

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

For Appellant: Shri Milin Mehta, A.R

Section 36Section 36(1)(iv)Section 40A(2)(b)Section 40A(9)Section 92C

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ ‘डी’, अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’D’’ BENCH, AHMEDABAD BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER And MS MADHUMITA ROY, JUDICIAL MEMBER 1. आयकर अपील सं./ITA No.4565/AHD/2007 – AY 2004-05 2. आयकर अपील सं./ITA No.1529/AHD/2009 – AY 2005-06 3. आयकर अपील सं./ITA No.1256/AHD/2012 – AY 2007-08 4. आयकर अपील सं./IT(TP)A No.1941/AHD/2012 – AY 2008-09 5. आयकर अपील सं./IT(TP)A No.551/AHD/2016 – AY 2009-10 1-4. A.C.I.T/DCIT 1-4. M/s FAG Bearing India Ltd., Circle-1(2), At & PO. Maneja, Vs. Baroda-390010. Baroda. PAN: AAACF 3357 Q (Applicant) (Respondent) And…

THE ACIT, CIRCLE-5, AHMEDABAD vs. M/S. NABROS PHARMA LTD., AHMEDABAD

ITA 788/AHD/2016[2008-09]Status: DisposedITAT Ahmedabad30 Apr 2019AY 2008-09

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

For Appellant: Shri Milin Mehta, A.R

Section 36Section 36(1)(iv)Section 40A(2)(b)Section 40A(9)Section 92C

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ ‘डी’, अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’D’’ BENCH, AHMEDABAD BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER And MS MADHUMITA ROY, JUDICIAL MEMBER 1. आयकर अपील सं./ITA No.4565/AHD/2007 – AY 2004-05 2. आयकर अपील सं./ITA No.1529/AHD/2009 – AY 2005-06 3. आयकर अपील सं./ITA No.1256/AHD/2012 – AY 2007-08 4. आयकर अपील सं./IT(TP)A No.1941/AHD/2012 – AY 2008-09 5. आयकर अपील सं./IT(TP)A No.551/AHD/2016 – AY 2009-10 1-4. A.C.I.T/DCIT 1-4. M/s FAG Bearing India Ltd., Circle-1(2), At & PO. Maneja, Vs. Baroda-390010. Baroda. PAN: AAACF 3357 Q (Applicant) (Respondent) And…

Alfa Laval India Ltd. v. DCIT

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