Alfa Laval India Ltd. v. DCIT

266 ITR 418High Court2004#2059 most cited

What is Alfa Laval India Ltd. v. DCIT authority for?

A deduction for obsolete inventory or provision for obsolete stock is permissible under Section 37(1) if justified by a certified auditor's report and valued at cost or market price/net realizable value, whichever is lower, with consistent valuation in subsequent years.

56

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2015 to 2024.

Also referred to as

Alfa Laval India Ltd. v. DCIT · Section 37(1) · obsolete inventory deduction · obsolete stock valuation · closing stock valuation · cost or market value lower · auditor's report · net realizable value

Also reported as

133 Taxmann 740

Sections most often in play

Section 1956: Section 211(3C)Section 1961: Section 142(1)Section 1961: Section 143(2)Section 1961: Section 37(1)Section 1961: Section 40(a)(ia)Section 2006

Issues it is cited on

section 90(3)section 43b(a)interest on refundsection 80hazadi bachao andolansection 80hhcsection 80hhroyalty incomeeligible businesssection 90section 80iasection 80i

Judgments citing Alfa Laval India Ltd. v. DCIT

The ACIT, Circle-1(2), Baroda vs. M/S. Fag Bearings India Ltd., Vadodara

ITA 551/AHD/2016[2009-10]Status: DisposedITAT Ahmedabad30 Apr 2019AY 2009-10

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…

M/S. Fag Bearings India Ltd., Baroda vs. The ACIT., Circle-1(2), (Tpo), Baroda

ITA 2061/AHD/2012[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…

M/S. Fag Bearings India Ltd., Baroda vs. The Dy.CIT., Circle-1(2), Baroda

ITA 1197/AHD/2012[2007-08]Status: DisposedITAT Ahmedabad30 Apr 2019AY 2007-08

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…

M/S. Fag Bearings India Ltd., Baroda vs. The CIT-I, Baroda

ITA 1453/AHD/2011[2005-06]Status: DisposedITAT Ahmedabad30 Apr 2019AY 2005-06

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…

Bg Exploration & Production India Ltd., Mumbai vs. DCIT, International Taxation, Circle-1, Dehradun

In the result, the appeals filed by the assessee for assessment years 2013-14 and 2014-15 are allowed as discussed hereinabove

ITA 7477/DEL/2018[2014-15]Status: DisposedITAT Delhi03 Apr 2019AY 2014-15

Bench: Sh. N. S. Saini & Smt. Beena A. Pillaiita No. 7476/Del/2018 : Asstt. Year : 2013-14

For Appellant: Sh. Ajay Vohra, Sr. AdvFor Respondent: Sh. Sanjay I. Bara, CIT DR
Section 143(3)

…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…

Bg Exploration & Production India Ltd., Mumbai vs. DCIT, International Taxation, Circle-1, Dehradun

In the result, the appeals filed by the assessee for assessment years 2013-14 and 2014-15 are allowed as discussed hereinabove

ITA 7476/DEL/2018[2013-14]Status: DisposedITAT Delhi03 Apr 2019AY 2013-14

Bench: Sh. N. S. Saini & Smt. Beena A. Pillaiita No. 7476/Del/2018 : Asstt. Year : 2013-14

For Appellant: Sh. Ajay Vohra, Sr. AdvFor Respondent: Sh. Sanjay I. Bara, CIT DR
Section 143(3)

…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…

DCIT 3(3)(1), Mumbai vs. Rallis India Ltd, Mumbai

ITA 456/MUM/2017[2009-10]Status: DisposedITAT Mumbai03 Aug 2018AY 2009-10

Bench: Hon’Ble Shri R. C. Sharma, Am & Hon’Ble Shri Sandeep Gosain, Jm आयकरअपीलसं./ I.T.A. No. 456/Mum/2017 (निर्धारणवर्ा / Assessment Year:2009-10) Dcit 3(3)(1) M/S Rallis India Ltd Room No. 609, 6Th Floor, Aayakar बिधम/ 156/157, Nariman Bhavan, M.K. Road, Bhavan, Nariman Vs. Mumbai-400 020. Point, Mumbai-400 021 स्थायीलेखासं./जीआइआरसं./ Pan/Gir No. Aabcr2657N (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : C.O. No. 117/Mum/2018 (निर्धारणवर्ा / Assessment Year: 2009-10) M/S Rallis India Ltd Dcit 3(3)(1) Room No. 609, 6Th 156/157, Nariman Bhavan, बिधम/ Nariman Point, Floor, Aayakar Vs. Mumbai-400 021 Bhavan, M.K. Road, Mumbai-400 020. (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : आयकरअपीलसं./ I.T.A. No. 2728/Mum/2014 (निर्धारणवर्ा / Assessment Year:2009-10) M/S Rallis India Ltd Dcit 3(3)(1) Room No. 609, 6Th 156/157, Nariman Bhavan, बिधम/ Nariman Point, Floor, Aayakar Vs. Mumbai-400 021 Bhavan, M.K. Road, Mumbai-400 020. (अपीलाथी/Appellant) (प्रत्यथी / Respondent) :

For Appellant: Shri A. MohanFor Respondent: Shri Jitendra Jain /H
Section 143(3)Section 263

…of 2012); CIT v. Hotline Teletube & Components Ltd. (Del) (ITA 694/2008); CIT v. Wolkem India Ltd. (315 ITR 211 (Raj); IAC v. Consolidated Pneumatic Tool Co. India Ltd. (15 ITD 564) (Born); A.L.A. Firm v. CIT (189 ITR 285) (SC); Alfa Laval India Ltd. v. DCIT (266 ITR 418) (Born); DCIT v. Indroyal Fumiture Co. P. Ltd. (2 ITR (Trib) 628) (Cochin). It was stated that first two judgments specifically deal with the issue of provision for diminution in the value of stock. It was thus stated that the disallowance be deleted.” 17. The ld. DR vehemently submitted before us that the order of ld.CIT(A) was against the prov…

Bg Exploration & Production India Ltd., Mumbai vs. DCIT, International Taxation, Dehradun

ITA 6791/DEL/2017[2012-13]Status: DisposedITAT Delhi17 Jul 2018AY 2012-13

Bench: Shri R.K. Panda & Shri Kuldip Singh

For Appellant: Shri Ajay Vohra, Senior AdvocateFor Respondent: Shri H.K. Chaudhary, CIT DR
Section 143Section 144C

…d 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 35 ITA No.6791/Del./2017 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. vs. ACIT – 66 taxmann.com 221. Ld. DR for the Revenue to repel the arguments addressed by the ld. AR for the taxpayer relied upon the orders of AO/DRP. 39. While deciding the identical issue, the Hon’ble Bombay High Court in case cited as Alfa Laval India Ltd. v…

Rallis India Ltd, Mumbai vs. CIT -3, Mumbai

The appeal of the Revenue is dismissed,

ITA 3465/MUM/2013[2008-09]Status: DisposedITAT Mumbai05 Mar 2018AY 2008-09

Bench: Shri Joginder Singh & Shri G. Manjunathaassessment Year: 2008-09 M/S Rallis India Ltd. Cit -3, Mumbai बनाम/ 156/157, Nariman Bhawan, Vs. 15Th Floor, 227, Nariman Point, Mumbai – 400 021. ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No. Aabcr 2657 N & Assessment Year: 2008-09 Dcit -3(3)(1), Mumbai M/S Rallis India Ltd. बनाम/ Room No.609, 6Th Floor, 156/157, Nariman Bhawan, Vs. Aayakar Bhavan, M. K. Road, 15Th Floor, 227, Nariman Mumbai – 400 020. Point, Mumbai – 400 021. (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No. Aabcr 2657 N

Section 28

…of 2012); CIT v. Hotline Teletube & Components Ltd. (Del) (ITA 694/2008); CIT v. Wolkem India Ltd. (315 ITR 211 (Raj); IAC v. Consolidated Pneumatic Tool Co. India Ltd. (15 ITD 564) (Born); A.L.A. Firm v. CIT (189 ITR 285) (SC); Alfa Laval India Ltd. v. DCIT (266 ITR 418) (Born); DCIT v. Indroyal Fumiture Co. P. Ltd. (2 ITR (Trib) 628) (Cochin). It was stated that first two judgments specifically deal with the issue of provision for diminution in the value of stock. It was thus stated that the disallowance be deleted.” 17. The ld. DR vehemently submitted before us that the order of ld. CIT(A) was against the pro…

Deputy Commissioner of Income-Tax vs. M/S. Finolex Plasson Industries Pvt. Ltd., Pune

The appeals of the Revenue are dismissed

ITA 1542/PUN/2015[2011-12]Status: DisposedITAT Pune29 Jan 2018AY 2011-12

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

For Appellant: Shri Jayant G. PendseFor Respondent: Shri Ajay Modi
Section 132Section 139Section 143(3)Section 153ASection 234C

…आयकर अऩीऱीय अधधकरण “ए” न्यायऩीठ ऩुणे में । IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, PUNE श्री डी. करुणाकरा राव, ऱेखा सदस्य, एवं श्री ववकास अवस्थी, न्याययक सदस्य के समक्ष । BEFORE SHRI D. KARUNAKARA RAO, AM AND SHRI VIKAS AWASTHY, JM आयकर अऩीऱ सं. / ITA Nos.1273 to 1278/PUN/2015 यनधाारण वषा / Assessment Years : 2005-06 to 2009-10 & 2011-12 Finolex Plasson Industries Pvt. Ltd., Plot No. 399, Urse, Taluka-Maval, Distt.-Pune – 410506 PAN : AABCP1939K .......अऩीऱाथी / Appellant बनाम / V/s. Dy. Commissioner of Income Tax, Central Circle - 1(2), Pune ……प्रत्यथी / Respondent आयकर अऩीऱ सं. / ITA Nos.1540 to 1…

Deputy Commissioner of Income-Tax vs. M/S. Finolex Plasson Industries Pvt. Ltd., Pune

The appeals of the Revenue are dismissed

ITA 1541/PUN/2015[2008-09]Status: DisposedITAT Pune29 Jan 2018AY 2008-09

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

For Appellant: Shri Jayant G. PendseFor Respondent: Shri Ajay Modi
Section 132Section 139Section 143(3)Section 153ASection 234C

…आयकर अऩीऱीय अधधकरण “ए” न्यायऩीठ ऩुणे में । IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, PUNE श्री डी. करुणाकरा राव, ऱेखा सदस्य, एवं श्री ववकास अवस्थी, न्याययक सदस्य के समक्ष । BEFORE SHRI D. KARUNAKARA RAO, AM AND SHRI VIKAS AWASTHY, JM आयकर अऩीऱ सं. / ITA Nos.1273 to 1278/PUN/2015 यनधाारण वषा / Assessment Years : 2005-06 to 2009-10 & 2011-12 Finolex Plasson Industries Pvt. Ltd., Plot No. 399, Urse, Taluka-Maval, Distt.-Pune – 410506 PAN : AABCP1939K .......अऩीऱाथी / Appellant बनाम / V/s. Dy. Commissioner of Income Tax, Central Circle - 1(2), Pune ……प्रत्यथी / Respondent आयकर अऩीऱ सं. / ITA Nos.1540 to 1…

Deputy Commissioner of Income-Tax vs. M/S. Finolex Plasson Industries Pvt. Ltd., Pune

The appeals of the Revenue are dismissed

ITA 1540/PUN/2015[2005-06]Status: DisposedITAT Pune29 Jan 2018AY 2005-06

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

For Appellant: Shri Jayant G. PendseFor Respondent: Shri Ajay Modi
Section 132Section 139Section 143(3)Section 153ASection 234C

…आयकर अऩीऱीय अधधकरण “ए” न्यायऩीठ ऩुणे में । IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, PUNE श्री डी. करुणाकरा राव, ऱेखा सदस्य, एवं श्री ववकास अवस्थी, न्याययक सदस्य के समक्ष । BEFORE SHRI D. KARUNAKARA RAO, AM AND SHRI VIKAS AWASTHY, JM आयकर अऩीऱ सं. / ITA Nos.1273 to 1278/PUN/2015 यनधाारण वषा / Assessment Years : 2005-06 to 2009-10 & 2011-12 Finolex Plasson Industries Pvt. Ltd., Plot No. 399, Urse, Taluka-Maval, Distt.-Pune – 410506 PAN : AABCP1939K .......अऩीऱाथी / Appellant बनाम / V/s. Dy. Commissioner of Income Tax, Central Circle - 1(2), Pune ……प्रत्यथी / Respondent आयकर अऩीऱ सं. / ITA Nos.1540 to 1…

Finolex Plasson Industries Pvt. Ltd., Pune vs. Deputy Commissioner of Income-Tax

The appeals of the Revenue are dismissed

ITA 1278/PUN/2015[2011-12]Status: DisposedITAT Pune29 Jan 2018AY 2011-12

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

For Appellant: Shri Jayant G. PendseFor Respondent: Shri Ajay Modi
Section 132Section 139Section 143(3)Section 153ASection 234C

…आयकर अऩीऱीय अधधकरण “ए” न्यायऩीठ ऩुणे में । IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, PUNE श्री डी. करुणाकरा राव, ऱेखा सदस्य, एवं श्री ववकास अवस्थी, न्याययक सदस्य के समक्ष । BEFORE SHRI D. KARUNAKARA RAO, AM AND SHRI VIKAS AWASTHY, JM आयकर अऩीऱ सं. / ITA Nos.1273 to 1278/PUN/2015 यनधाारण वषा / Assessment Years : 2005-06 to 2009-10 & 2011-12 Finolex Plasson Industries Pvt. Ltd., Plot No. 399, Urse, Taluka-Maval, Distt.-Pune – 410506 PAN : AABCP1939K .......अऩीऱाथी / Appellant बनाम / V/s. Dy. Commissioner of Income Tax, Central Circle - 1(2), Pune ……प्रत्यथी / Respondent आयकर अऩीऱ सं. / ITA Nos.1540 to 1…

Finolex Plasson Industries Pvt. Ltd., Pune vs. Deputy Commissioner of Income-Tax

The appeals of the Revenue are dismissed

ITA 1277/PUN/2015[2009-10]Status: DisposedITAT Pune29 Jan 2018AY 2009-10

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

For Appellant: Shri Jayant G. PendseFor Respondent: Shri Ajay Modi
Section 132Section 139Section 143(3)Section 153ASection 234C

…आयकर अऩीऱीय अधधकरण “ए” न्यायऩीठ ऩुणे में । IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, PUNE श्री डी. करुणाकरा राव, ऱेखा सदस्य, एवं श्री ववकास अवस्थी, न्याययक सदस्य के समक्ष । BEFORE SHRI D. KARUNAKARA RAO, AM AND SHRI VIKAS AWASTHY, JM आयकर अऩीऱ सं. / ITA Nos.1273 to 1278/PUN/2015 यनधाारण वषा / Assessment Years : 2005-06 to 2009-10 & 2011-12 Finolex Plasson Industries Pvt. Ltd., Plot No. 399, Urse, Taluka-Maval, Distt.-Pune – 410506 PAN : AABCP1939K .......अऩीऱाथी / Appellant बनाम / V/s. Dy. Commissioner of Income Tax, Central Circle - 1(2), Pune ……प्रत्यथी / Respondent आयकर अऩीऱ सं. / ITA Nos.1540 to 1…

Finolex Plasson Industries Pvt. Ltd., Pune vs. Deputy Commissioner of Income-Tax

The appeals of the Revenue are dismissed

ITA 1276/PUN/2015[2008-09]Status: DisposedITAT Pune29 Jan 2018AY 2008-09

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

For Appellant: Shri Jayant G. PendseFor Respondent: Shri Ajay Modi
Section 132Section 139Section 143(3)Section 153ASection 234C

…आयकर अऩीऱीय अधधकरण “ए” न्यायऩीठ ऩुणे में । IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, PUNE श्री डी. करुणाकरा राव, ऱेखा सदस्य, एवं श्री ववकास अवस्थी, न्याययक सदस्य के समक्ष । BEFORE SHRI D. KARUNAKARA RAO, AM AND SHRI VIKAS AWASTHY, JM आयकर अऩीऱ सं. / ITA Nos.1273 to 1278/PUN/2015 यनधाारण वषा / Assessment Years : 2005-06 to 2009-10 & 2011-12 Finolex Plasson Industries Pvt. Ltd., Plot No. 399, Urse, Taluka-Maval, Distt.-Pune – 410506 PAN : AABCP1939K .......अऩीऱाथी / Appellant बनाम / V/s. Dy. Commissioner of Income Tax, Central Circle - 1(2), Pune ……प्रत्यथी / Respondent आयकर अऩीऱ सं. / ITA Nos.1540 to 1…

Finolex Plasson Industries Pvt. Ltd., Pune vs. Deputy Commissioner of Income-Tax

The appeals of the Revenue are dismissed

ITA 1275/PUN/2015[2007-08]Status: DisposedITAT Pune29 Jan 2018AY 2007-08

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

For Appellant: Shri Jayant G. PendseFor Respondent: Shri Ajay Modi
Section 132Section 139Section 143(3)Section 153ASection 234C

…आयकर अऩीऱीय अधधकरण “ए” न्यायऩीठ ऩुणे में । IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, PUNE श्री डी. करुणाकरा राव, ऱेखा सदस्य, एवं श्री ववकास अवस्थी, न्याययक सदस्य के समक्ष । BEFORE SHRI D. KARUNAKARA RAO, AM AND SHRI VIKAS AWASTHY, JM आयकर अऩीऱ सं. / ITA Nos.1273 to 1278/PUN/2015 यनधाारण वषा / Assessment Years : 2005-06 to 2009-10 & 2011-12 Finolex Plasson Industries Pvt. Ltd., Plot No. 399, Urse, Taluka-Maval, Distt.-Pune – 410506 PAN : AABCP1939K .......अऩीऱाथी / Appellant बनाम / V/s. Dy. Commissioner of Income Tax, Central Circle - 1(2), Pune ……प्रत्यथी / Respondent आयकर अऩीऱ सं. / ITA Nos.1540 to 1…

Finolex Plasson Industries Pvt. Ltd., Pune vs. Deputy Commissioner of Income-Tax

The appeals of the Revenue are dismissed

ITA 1274/PUN/2015[2006-07]Status: DisposedITAT Pune29 Jan 2018AY 2006-07

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

For Appellant: Shri Jayant G. PendseFor Respondent: Shri Ajay Modi
Section 132Section 139Section 143(3)Section 153ASection 234C

…आयकर अऩीऱीय अधधकरण “ए” न्यायऩीठ ऩुणे में । IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, PUNE श्री डी. करुणाकरा राव, ऱेखा सदस्य, एवं श्री ववकास अवस्थी, न्याययक सदस्य के समक्ष । BEFORE SHRI D. KARUNAKARA RAO, AM AND SHRI VIKAS AWASTHY, JM आयकर अऩीऱ सं. / ITA Nos.1273 to 1278/PUN/2015 यनधाारण वषा / Assessment Years : 2005-06 to 2009-10 & 2011-12 Finolex Plasson Industries Pvt. Ltd., Plot No. 399, Urse, Taluka-Maval, Distt.-Pune – 410506 PAN : AABCP1939K .......अऩीऱाथी / Appellant बनाम / V/s. Dy. Commissioner of Income Tax, Central Circle - 1(2), Pune ……प्रत्यथी / Respondent आयकर अऩीऱ सं. / ITA Nos.1540 to 1…

DCIT - 3(2), Mumbai vs. M/S. Kuoni Travels (I) Ltd., Mumbai

In the result, Ground no.5 & 6 of the appeal are dismissed

ITA 1924/MUM/2007[2002-2003]Status: DisposedITAT Mumbai19 Jan 2018AY 2002-2003

Bench: Shri B.R.Baskaran,Accountant Mamber & Shri Pawan Singhdcit 3(3)(1), M/S Sotc Travel Services Pvt. Room No. 609, 6Th Floor, Ltd. (Previously Known As Kuoni Aayakar Bhavan, Travels (India) Pvt. Ltd.),Now Mumbai-400020. Vs. Merged With Travel Corporation (India) Ltd. Kuoni House, N.F. Road, Behind Taj Mahal Hotel, Colaba, Mumbai-400001 Pan: Aaacs0170L (Appellant) (Respondent) M/S Sotc Travel Services Pvt. Dcit 3(3)(1), Room No. 609, 6Th Floor, Ltd. (Previously Known As Kuoni Travels (India) Pvt. Aayakar Bhavan, Ltd.),Now Merged With Travel Mumbai-400020. Corporation (India) Ltd. Kuoni Vs. House, N.F. Road, Behind Taj Mahal Hotel, Colaba, Mumbai-400001 Pan: Aaacs0170L (Appellant) (Respondent)

For Respondent: Shri S. Padmaja CIT –DR with & with Ms Pooja Swaroop ( Sr
Section 253Section 254(1)Section 80HSection 8O

…sset allowing depreciation. The ld. CIT(A) upheld the same without considering the relevant provision of law. In support of his submission, the ld. AR of the assessee relied upon the decision of Hon’ble Bombay High Court in Alpha Laval India Ltd. vs. DCIT (266 ITR 418)and the decision of Hon’ble Apex Court in CIT vs. IAEC (Pumps) Ltd. (232 ITR 316). On the other hand, the ld. ITA No.1924 & 2075/M/2007- Kuoni Travels (India) Pvt. Ltd. DR for the Revenue supported the order of authorities below. The ld. DR argued that the assessee made the payment for use of brand for a period of 5½ years. The agreement fo…

M/S Vodafone East Limited (Formerly Known As Vodafone Essar East Limited), Kolkata vs. ACIT, Cir-7, Kolkata

343/K/2009 04-05 Revenue dismissed

ITA 431/KOL/2012[2008-2009]Status: DisposedITAT Kolkata15 Dec 2017AY 2008-2009

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

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

…alify for deduction u/s 80IA of the Act. In the following decisions, in the context of section 80HHC, the Courts have held that deduction u/s. 80-HHC of the Act is available in respect of amount taxes u/s. section 41(1) of the Act: o Alfa Laval India Limited (266 ITR 418) (Bom) affirmed by the Supreme Court in 295 ITR 451 o Extrusion Process (P) Ltd. V. ITO (106 ITD 336) (TBom) (PB II – page Nos. 160-163) o CIT v. Abdul Rahaman Industries 293 ITR 475 (Mad) (PB I – page Nos. 164-166) Thus, once the write back are taxed u/s. 41(1) of the Act, following the Delhi High Court decision in Eltek (supra), it would undisp…

M/S. Vodafone Essar East Limited, Kolkata vs. ACIT, Circle - 7, Kolkata

343/K/2009 04-05 Revenue dismissed

ITA 673/KOL/2011[2007-08]Status: DisposedITAT Kolkata15 Dec 2017AY 2007-08

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

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

…alify for deduction u/s 80IA of the Act. In the following decisions, in the context of section 80HHC, the Courts have held that deduction u/s. 80-HHC of the Act is available in respect of amount taxes u/s. section 41(1) of the Act: o Alfa Laval India Limited (266 ITR 418) (Bom) affirmed by the Supreme Court in 295 ITR 451 o Extrusion Process (P) Ltd. V. ITO (106 ITD 336) (TBom) (PB II – page Nos. 160-163) o CIT v. Abdul Rahaman Industries 293 ITR 475 (Mad) (PB I – page Nos. 164-166) Thus, once the write back are taxed u/s. 41(1) of the Act, following the Delhi High Court decision in Eltek (supra), it would undisp…