Allied Motors (supra); CIT v. Podar Cement Pvt Ltd.

226 ITR 625Supreme Court of India1997#356 most cited

What is Allied Motors (supra); CIT v. Podar Cement Pvt Ltd. authority for?

Amendments to tax laws that are explanatory, declaratory, curative, or clarificatory in nature are judicially construed as retrospective, especially if they are intended to remedy unintended consequences.

244

judgments rely on this decision, according to BharatTax’s citation analysis of 367,164 Indian tax judgments — from 2005 to 2025.

Also referred to as

Allied Motors v CIT · CIT v Podar Cement · retrospective amendment · curative amendment · declaratory amendment · explanatory amendment · unintended consequences · tax law · assessment year

Sections most often in play

Section 143(3)Section 250Section 54Section 143(1)Section 40A(7)Section 139(1)Section 142(1)Section 144C(13)

Issues it is cited on

section 140a(1)section 215section 207section 2(43)section 262section 209section 2(1)section 208section 210section 115jaasection 140aminimum alternate tax

Judgments citing Allied Motors (supra); CIT v. Podar Cement Pvt Ltd.

Manish I. Jain vs. Joint Commissioner of Income-Tax

In the result, appeal of assessee in ITA No

ITA 999/PUN/2015[2009-10]Status: DisposedITAT Pune29 Jan 2018AY 2009-10

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

For Appellant: Shri Sunil PathakFor Respondent: Dr. Vivek Aggarwal &
Section 2(24)(iv)

…आयकर अपील"य अ"धकरण “बी” "यायपीठ पुणे म" । IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, PUNE "ी डी. क"णाकरा राव, लेखा सद"य, एवं "ी "वकास अव"थी, "या"यक सद"य के सम" । BEFORE SHRI D. KARUNAKARA RAO, AM AND SHRI VIKAS AWASTHY, JM आयकर अपील सं. / ITA No.666/PUN/2015 "नधा"रण वष"/ Assessment Year : 2009-10 Ishwarlal S. Lalwani (Jain), 169, Balaji Peth, Jalgaon-425001 PAN : AADPL1002G .......अपीलाथ" / Appellant अपीलाथ" / बनाम/ V/s. The Income Tax officer, Ward – 1(3), Jalgaon ……""यथ"/ Respondent आयकर अपील सं. आयकर अपील सं. / ITA No.667/PUN/2015 "नधा"रण वष"/ Assessment Year : 2010-11 Ishwarlal S. Lalwani (Jain),…

Ishwarlal S. Lalwani (Jain) vs. Income-Tax Officer

In the result, appeal of assessee in ITA No

ITA 667/PUN/2015[2010-11]Status: DisposedITAT Pune29 Jan 2018AY 2010-11

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

For Appellant: Shri Sunil PathakFor Respondent: Dr. Vivek Aggarwal &
Section 2(24)(iv)

…आयकर अपील"य अ"धकरण “बी” "यायपीठ पुणे म" । IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, PUNE "ी डी. क"णाकरा राव, लेखा सद"य, एवं "ी "वकास अव"थी, "या"यक सद"य के सम" । BEFORE SHRI D. KARUNAKARA RAO, AM AND SHRI VIKAS AWASTHY, JM आयकर अपील सं. / ITA No.666/PUN/2015 "नधा"रण वष"/ Assessment Year : 2009-10 Ishwarlal S. Lalwani (Jain), 169, Balaji Peth, Jalgaon-425001 PAN : AADPL1002G .......अपीलाथ" / Appellant अपीलाथ" / बनाम/ V/s. The Income Tax officer, Ward – 1(3), Jalgaon ……""यथ"/ Respondent आयकर अपील सं. आयकर अपील सं. / ITA No.667/PUN/2015 "नधा"रण वष"/ Assessment Year : 2010-11 Ishwarlal S. Lalwani (Jain),…

Ishwarlal S. Lalwani (Jain) vs. Income-Tax Officer

In the result, appeal of assessee in ITA No

ITA 666/PUN/2015[2009-10]Status: DisposedITAT Pune29 Jan 2018AY 2009-10

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

For Appellant: Shri Sunil PathakFor Respondent: Dr. Vivek Aggarwal &
Section 2(24)(iv)

…आयकर अपील"य अ"धकरण “बी” "यायपीठ पुणे म" । IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, PUNE "ी डी. क"णाकरा राव, लेखा सद"य, एवं "ी "वकास अव"थी, "या"यक सद"य के सम" । BEFORE SHRI D. KARUNAKARA RAO, AM AND SHRI VIKAS AWASTHY, JM आयकर अपील सं. / ITA No.666/PUN/2015 "नधा"रण वष"/ Assessment Year : 2009-10 Ishwarlal S. Lalwani (Jain), 169, Balaji Peth, Jalgaon-425001 PAN : AADPL1002G .......अपीलाथ" / Appellant अपीलाथ" / बनाम/ V/s. The Income Tax officer, Ward – 1(3), Jalgaon ……""यथ"/ Respondent आयकर अपील सं. आयकर अपील सं. / ITA No.667/PUN/2015 "नधा"रण वष"/ Assessment Year : 2010-11 Ishwarlal S. Lalwani (Jain),…

Parvinchand N. Sehgal (HUF), Mumbai vs. ITO 24(3)(2), Mumbai

In the result, the appeal filed by the assessee is hereby ordered to be allowed

ITA 2305/MUM/2016[2010-11]Status: DisposedITAT Mumbai17 Jan 2018AY 2010-11
For Appellant: Shri Shekhar GuptaFor Respondent: Shri V. Vidhyadhar
Section 139Section 143(1)Section 143(2)Section 147Section 148Section 50Section 54Section 54F

…cuments are registered, the transfer will take place on the date of execution of documents and not on the registration of documents. We refer here to the decision in Alapati Venkataramiah vs. CIT (1965) 57 ITR 185(SC) and CIT vs. Podar Cements Pvt. Ltd (1997) 226 ITR 625(SC). In Fibre Boards (P) Ltd. (supra), the Hon’ble Supreme Court has held:- “That under section 54G the assessee is given window of three years after date on which transfer has taken place to “purchase” new machinery or plant or “acquire” building or land. This is why the expression used in 54G(2) is “which is not utilized by him for all or any o…

Virender Kumar Sharma, Noida vs. ITO, Ward-67(1), New Delhi

In the result, the appeal filed by the assessee is allowed

ITA 5150/DEL/2017[2013-14]Status: DisposedITAT Delhi16 Jan 2018AY 2013-14

Bench: Shri R. K. Pandaassessment Year : 2013-14 Virender Kumar Sharma, Ito, Ward- 67(1), 1240, Sector-37, Arun Vihar, New Delhi. Vs. Noida, Uttar Pradesh.

For Appellant: Shri Sunil Agrawal, CAFor Respondent: Shri Arun Kumar Yadav, Sr.DR
Section 54

…contention of the Revenue is accepted, it would be a derogatory step. 10. Even when we look into the matter from another angle, facts remain that the assessee is the actual and constructive owner of the house. In CIT Vs. Podar Cements (P) Ltd. & Ors., (1997) 226 ITR 625 (SC), the Supreme Court has also accepted the theory of constructive ownership. Moreover, Section 54F mandates that the house should be purchased by the assessee and it does not stipulate that the house should be purchased in the name of the assessee only. Here is a case where the house was purchased by the assessee and that too in his name and w…

Siddhesh Capital Market Services P.Ltd, Mumbai vs. DCIT Cir 3(3), Mumbai

Appeal of the AO is dismissed

ITA 2517/MUM/2015[2010-11]Status: DisposedITAT Mumbai01 Jan 2018AY 2010-11

Bench: S/Shri Rajendra, A.M. & Amarjit Singh, J.M. आयकर अपील सुं./Ita No. 6532/Mum/2012,धनधावरण र्र्व /Assessment Year: 2009-10 M/S.Siddhesh Capital Market Services Dy. Commissioner Of Income Tax, P.Ltd,122, Maker Chamber Iii, Circle-3(3), Vs. Nariman Point, Mumbai – 400021 Mumbai. Pan: Aaccs4582N (अपीलाथी /Appellant) (प्रत्यथी / Respondent) आयकर अपील सुं./Ita No.2489/Mum/2015 धनधावरण र्र्व /Assessment Year: 2010-11 Dy. Commissioner Of Income Tax, M/S.Siddhesh Capital Market Services, Vs. Circle-3(3),Mumbai. Nariman Point, Mumbai – 400021 आयकर अपील सुं./Ita No.2517/Mum/2015 धनधावरण र्र्व /Assessment Year: 2010-11 M/S.Siddhesh Capital Market Services, Dy. Commissioner Of Income Tax, Vs. Nariman Point, Mumbai – 400021 Circle-3(3),Mumbai. Revenue By: Shri V. Justin-Dr Assessee By: Shri Vijay Mehta स नर्ाई की तारीख / Date Of Hearing: 03/10/2017 घोर्णा की तारीख / Date Of Pronouncement: 01/01/2018 आयकर अधधधनयम,1961 की धारा 254(1) के अन्द्तगवत आदेश Order U/S.254(1)Of The Income-Tax Act,1961(Act) लेखा सदस्य,राजेन्द्र के अन सार -Per Rajendra,Am: Challenging The Orders Dated 26.06.2012 & 12.01.2015 Of Cit(A)-7 & Cit-8,Respectively, The Assessee & The Assessing Officer(Ao)Have Filed Appeals For The Above-Mentioned Two Assessment Years.As The Issues Involved In Both The Appeals Are Common,So,We Are Adjudicat- Ing Them Together. Assessee-Company Is Engaged In The Business Of Finance,Trading, Investment & Derivative Transaction In Shares & Securities. The Details Of Filing Of Returns, Returned Incomes,Dates Of Assessments & Assessed Incomes Can Be Tabulated As Under: Ay. Roi Filed On Returned Income Asstt.Date Assessed Income 09-10 22.09.2009 (-) Rs.81,01,51,079/- 30.11.2011 (-) Rs.80,82,06,669/- 10-11 21.09.2010 Rs. 48,14,034/- 11.02.2013 Rs. 49,72,360/-

For Appellant: Shri Vijay MehtaFor Respondent: Shri V. Justin-DR
Section 10(34)Section 14ASection 254(1)Section 35Section 35D

…that the object behind the section was to prevent profits of non-share trading business to be set off against the share trading losses. It referred to the cases of A. B. Shanti (225 ITR 258); Allied Motors Private Ltd(224ITR677) and Podar Cement Private Ltd. (226 ITR 625) and argued that the assessee had not adopted any device to manipulate and reduce the taxable income, that the assessee had made profit on 3 6532/M/12(09-10)-M/s.Siddesh Capital Market Services P.Ltd sale of shares, that the loss was on account of valuation of stock and not on trading, that the loss on valuation was on account of consistent inv…

DCIT Cir 3(3)(1), Mumbai vs. Siddhesh Capital Market Services P.Ltd, Mumbai

Appeal of the AO is dismissed

ITA 2489/MUM/2015[2010-11]Status: DisposedITAT Mumbai01 Jan 2018AY 2010-11

Bench: S/Shri Rajendra, A.M. & Amarjit Singh, J.M. आयकर अपील सुं./Ita No. 6532/Mum/2012,धनधावरण र्र्व /Assessment Year: 2009-10 M/S.Siddhesh Capital Market Services Dy. Commissioner Of Income Tax, P.Ltd,122, Maker Chamber Iii, Circle-3(3), Vs. Nariman Point, Mumbai – 400021 Mumbai. Pan: Aaccs4582N (अपीलाथी /Appellant) (प्रत्यथी / Respondent) आयकर अपील सुं./Ita No.2489/Mum/2015 धनधावरण र्र्व /Assessment Year: 2010-11 Dy. Commissioner Of Income Tax, M/S.Siddhesh Capital Market Services, Vs. Circle-3(3),Mumbai. Nariman Point, Mumbai – 400021 आयकर अपील सुं./Ita No.2517/Mum/2015 धनधावरण र्र्व /Assessment Year: 2010-11 M/S.Siddhesh Capital Market Services, Dy. Commissioner Of Income Tax, Vs. Nariman Point, Mumbai – 400021 Circle-3(3),Mumbai. Revenue By: Shri V. Justin-Dr Assessee By: Shri Vijay Mehta स नर्ाई की तारीख / Date Of Hearing: 03/10/2017 घोर्णा की तारीख / Date Of Pronouncement: 01/01/2018 आयकर अधधधनयम,1961 की धारा 254(1) के अन्द्तगवत आदेश Order U/S.254(1)Of The Income-Tax Act,1961(Act) लेखा सदस्य,राजेन्द्र के अन सार -Per Rajendra,Am: Challenging The Orders Dated 26.06.2012 & 12.01.2015 Of Cit(A)-7 & Cit-8,Respectively, The Assessee & The Assessing Officer(Ao)Have Filed Appeals For The Above-Mentioned Two Assessment Years.As The Issues Involved In Both The Appeals Are Common,So,We Are Adjudicat- Ing Them Together. Assessee-Company Is Engaged In The Business Of Finance,Trading, Investment & Derivative Transaction In Shares & Securities. The Details Of Filing Of Returns, Returned Incomes,Dates Of Assessments & Assessed Incomes Can Be Tabulated As Under: Ay. Roi Filed On Returned Income Asstt.Date Assessed Income 09-10 22.09.2009 (-) Rs.81,01,51,079/- 30.11.2011 (-) Rs.80,82,06,669/- 10-11 21.09.2010 Rs. 48,14,034/- 11.02.2013 Rs. 49,72,360/-

For Appellant: Shri Vijay MehtaFor Respondent: Shri V. Justin-DR
Section 10(34)Section 14ASection 254(1)Section 35Section 35D

…that the object behind the section was to prevent profits of non-share trading business to be set off against the share trading losses. It referred to the cases of A. B. Shanti (225 ITR 258); Allied Motors Private Ltd(224ITR677) and Podar Cement Private Ltd. (226 ITR 625) and argued that the assessee had not adopted any device to manipulate and reduce the taxable income, that the assessee had made profit on 3 6532/M/12(09-10)-M/s.Siddesh Capital Market Services P.Ltd sale of shares, that the loss was on account of valuation of stock and not on trading, that the loss on valuation was on account of consistent inv…

Siddhesh Capital Market Services P.Ltd, Mumbai vs. DCIT Cir 3(3), Mumbai

Appeal of the AO is dismissed

ITA 6532/MUM/2012[2009-10]Status: DisposedITAT Mumbai01 Jan 2018AY 2009-10

Bench: S/Shri Rajendra, A.M. & Amarjit Singh, J.M. आयकर अपील सुं./Ita No. 6532/Mum/2012,धनधावरण र्र्व /Assessment Year: 2009-10 M/S.Siddhesh Capital Market Services Dy. Commissioner Of Income Tax, P.Ltd,122, Maker Chamber Iii, Circle-3(3), Vs. Nariman Point, Mumbai – 400021 Mumbai. Pan: Aaccs4582N (अपीलाथी /Appellant) (प्रत्यथी / Respondent) आयकर अपील सुं./Ita No.2489/Mum/2015 धनधावरण र्र्व /Assessment Year: 2010-11 Dy. Commissioner Of Income Tax, M/S.Siddhesh Capital Market Services, Vs. Circle-3(3),Mumbai. Nariman Point, Mumbai – 400021 आयकर अपील सुं./Ita No.2517/Mum/2015 धनधावरण र्र्व /Assessment Year: 2010-11 M/S.Siddhesh Capital Market Services, Dy. Commissioner Of Income Tax, Vs. Nariman Point, Mumbai – 400021 Circle-3(3),Mumbai. Revenue By: Shri V. Justin-Dr Assessee By: Shri Vijay Mehta स नर्ाई की तारीख / Date Of Hearing: 03/10/2017 घोर्णा की तारीख / Date Of Pronouncement: 01/01/2018 आयकर अधधधनयम,1961 की धारा 254(1) के अन्द्तगवत आदेश Order U/S.254(1)Of The Income-Tax Act,1961(Act) लेखा सदस्य,राजेन्द्र के अन सार -Per Rajendra,Am: Challenging The Orders Dated 26.06.2012 & 12.01.2015 Of Cit(A)-7 & Cit-8,Respectively, The Assessee & The Assessing Officer(Ao)Have Filed Appeals For The Above-Mentioned Two Assessment Years.As The Issues Involved In Both The Appeals Are Common,So,We Are Adjudicat- Ing Them Together. Assessee-Company Is Engaged In The Business Of Finance,Trading, Investment & Derivative Transaction In Shares & Securities. The Details Of Filing Of Returns, Returned Incomes,Dates Of Assessments & Assessed Incomes Can Be Tabulated As Under: Ay. Roi Filed On Returned Income Asstt.Date Assessed Income 09-10 22.09.2009 (-) Rs.81,01,51,079/- 30.11.2011 (-) Rs.80,82,06,669/- 10-11 21.09.2010 Rs. 48,14,034/- 11.02.2013 Rs. 49,72,360/-

For Appellant: Shri Vijay MehtaFor Respondent: Shri V. Justin-DR
Section 10(34)Section 14ASection 254(1)Section 35Section 35D

…that the object behind the section was to prevent profits of non-share trading business to be set off against the share trading losses. It referred to the cases of A. B. Shanti (225 ITR 258); Allied Motors Private Ltd(224ITR677) and Podar Cement Private Ltd. (226 ITR 625) and argued that the assessee had not adopted any device to manipulate and reduce the taxable income, that the assessee had made profit on 3 6532/M/12(09-10)-M/s.Siddesh Capital Market Services P.Ltd sale of shares, that the loss was on account of valuation of stock and not on trading, that the loss on valuation was on account of consistent inv…

DCIT, New Delhi vs. M/S. Ambience Hotels & Resorts Pvt. Ltd., New Delhi

In the result appeal of the Revenue in case of Ambience Hotels and Resorts Pvt Ltd in ITA No

ITA 6422/DEL/2015[2012-13]Status: DisposedITAT Delhi20 Nov 2017AY 2012-13

Bench: Shri H.S.Sidhu & Shri Prashant Maharishi

For Appellant: Shri TR Talwar, AdvFor Respondent: Ms. Aparna Karan, CIT DR
Section 14ASection 60

…ree deposit of Rs. 75 crores given to AHRL and treating the same income in the hands of AHRL. 2. In not accepting the concept of beneficial ownership of the property in possession and enjoyment as held by the apex court in CIT V. Podar Cement Pvt. Ltd. (1997) 226 ITR 625 (SC) and Jodha Mai Kuthiala (RB) V. CIT (1971) 82 ITR 570 (SC). DCIT, Vs. Ambience Hotels & Resorts Pvt. Ltd ITA No. 6420, 6421,6422/Del/2015 & ITA No. 6873/Del/2014, 872/Del/2014, 6415/Del/2015 (Assessment Year: 2009-10 to 2012-13) 3. In not recognizing that section 60 is not acceptable, if the income is derived not from transfer of assets but…

DCIT, New Delhi vs. M/S. Ambience Hotels & Resorts Pvt. Ltd., New Delhi

In the result appeal of the Revenue in case of Ambience Hotels and Resorts Pvt Ltd in ITA No

ITA 6421/DEL/2015[2011-12]Status: DisposedITAT Delhi20 Nov 2017AY 2011-12

Bench: Shri H.S.Sidhu & Shri Prashant Maharishi

For Appellant: Shri TR Talwar, AdvFor Respondent: Ms. Aparna Karan, CIT DR
Section 14ASection 60

…ree deposit of Rs. 75 crores given to AHRL and treating the same income in the hands of AHRL. 2. In not accepting the concept of beneficial ownership of the property in possession and enjoyment as held by the apex court in CIT V. Podar Cement Pvt. Ltd. (1997) 226 ITR 625 (SC) and Jodha Mai Kuthiala (RB) V. CIT (1971) 82 ITR 570 (SC). DCIT, Vs. Ambience Hotels & Resorts Pvt. Ltd ITA No. 6420, 6421,6422/Del/2015 & ITA No. 6873/Del/2014, 872/Del/2014, 6415/Del/2015 (Assessment Year: 2009-10 to 2012-13) 3. In not recognizing that section 60 is not acceptable, if the income is derived not from transfer of assets but…

DCIT, New Delhi vs. M/S Ambience Hotels & Resorts Pvt. Ltd., New Delhi

In the result appeal of the Revenue in case of Ambience Hotels and Resorts Pvt Ltd in ITA No

ITA 6420/DEL/2015[2009-10]Status: DisposedITAT Delhi20 Nov 2017AY 2009-10

Bench: Shri H.S.Sidhu & Shri Prashant Maharishi

For Appellant: Shri TR Talwar, AdvFor Respondent: Ms. Aparna Karan, CIT DR
Section 14ASection 60

…ree deposit of Rs. 75 crores given to AHRL and treating the same income in the hands of AHRL. 2. In not accepting the concept of beneficial ownership of the property in possession and enjoyment as held by the apex court in CIT V. Podar Cement Pvt. Ltd. (1997) 226 ITR 625 (SC) and Jodha Mai Kuthiala (RB) V. CIT (1971) 82 ITR 570 (SC). DCIT, Vs. Ambience Hotels & Resorts Pvt. Ltd ITA No. 6420, 6421,6422/Del/2015 & ITA No. 6873/Del/2014, 872/Del/2014, 6415/Del/2015 (Assessment Year: 2009-10 to 2012-13) 3. In not recognizing that section 60 is not acceptable, if the income is derived not from transfer of assets but…

DDIT, New Delhi vs. M/S Shin Satellite Public Co. Ltd., New Delhi

ITA 3593/DEL/2011[2005-06]Status: DisposedITAT Delhi16 Oct 2017AY 2005-06

Bench: Shri H.S.Sidhu & Shri Prashant Maharishi

For Appellant: Shri F V Irani, AdvFor Respondent: Shri TS Shivkumar, CIT DR
Section 143(3)Section 144C(1)Section 234BSection 9Section 9(1)

…ng whether an amendment was clarificatory or substantive in nature, and whether it will have retrospective effect or not, it was held in CIT v. Gold Coin Health Food (P.) Ltd. [2008] 304 ITR 308 (SC) ; [2008] 9 SCC 622 and CIT v. Podar Cement (P.) Ltd. [1997] 226 ITR 625 (SC) ; [1997] 5 SCC 482 that, (i) the circumstances under which the amendment was brought in existence, (ii) the consequences of the amendment, and (iii) the scheme of the statute prior and subsequent to the amendment will have to be taken note of. 37. An important question, which arises in this context, is whether a "clarificatory" amendment rem…

Mrs.Kavita Tiwari, Bangalore vs. Income Tax Officer, Bangalore

In the result, the assessee’s appeal for asst

ITA 1916/BANG/2016[2011-12]Status: DisposedITAT Bangalore11 Oct 2017AY 2011-12

Bench: Shri Sunil Kumar Yadav & Shri Jason P Boazmrs. Kavita Tiwari, D-202, Adarsh Residency, 8Th Block, Jayanagar, Sangam Circle, Bengaluru. . Appellant Vs. The Income-Tax Officer, Ward-4(4), Bengaluru. . Respondent Pan – Acvpt1583G. Appellant By : Shri R.E Balasubramaniam, C.A Respondent By : Shri M.K Biju, Jcit Date Of Hearing : 16-08-2017 Date Of Pronouncement : -10-2017 O R D E R

For Appellant: Shri R.E Balasubramaniam, C.AFor Respondent: Shri M.K Biju, JCIT
Section 143(1)Section 143(3)Section 54

…appeal was allowed in favour of assessee and it was held that: "10. Even when we look into the matter from another angle, facts remain that the assessee is the actual and constructive owner of the house. In CIT v. Podar Cement (P.) Ltd. [1997] 92 Taxman 541 /226 ITR 625 (SC), the Supreme Court has also accepted the theory of constructive ownership. Moreover, Section 54F mandates that the house should be purchased by the assessee and it does not stipulate that the house should be purchased in the name of the assessee only. Here is a case where the house was purchased by the assessee and that too in his name and w…

Sh. Sanjay Dalmia, New Delhi vs. DCIT, New Delhi

In the result all the appeal filed by the assessee are dismissed

ITA 3795/DEL/2014[2006-07]Status: DisposedITAT Delhi05 Oct 2017AY 2006-07

Bench: Shri H.S.Sidhu & Shri Prashant Maharishi

For Appellant: Shri Vinod Kumar Bindal, AdvFor Respondent: Shri SS Rana, CIT DR
Section 132Section 142(1)Section 153ASection 271Section 271(1)(b)

…tion can be carried forward - Indian Income-tax Act, 1922, ss. 10(2)(vi), Prov. Cl. (b); 24(2), Prov. (b). Interpretation of statutes - Taxing statutes - Doubt - Assessee entitled to interpretation favourable to him. iv) CIT vs. Poddar Cement (P.) Ltd. [19971 226 ITR 625 (SC) Where there are two possible interpretations of a particular section which is akin to a charging section, the interpretation which is favourable to the assessee should be preferred while construing that particular provision. Reiterating the same view, in the case of CIT vs. Shaan Finance (P.) Ltd. [1998] 231 ITR 308 (SC) it has been held tha…

Oberoi Buildings & Investments Pvt. Ltd., Kolkata vs. ACIT, Cir-5, Kolkata

In the result, the appeal filed by the assessee (Ground No

ITA 1205/KOL/2014[2007-2008]Status: DisposedITAT Kolkata04 Oct 2017AY 2007-2008

Bench: Shri A. T Varkey, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1204/Kol/2014 (िनधा"रणवष" / Assessment Year: 2007-08 Vs. A.C.I.T, Circle – 5, Kolkata Oberoi Investments Pvt. Ltd. 4, Mangoe Lane, 6Th Floor, Kolkata – 700 001. "थायीलेखासं./जीआइआरसं./Pan/Gir No. : Aaaco 2859E (Assessee) .. (Respondent) & आयकरअपीलसं./Ita No.1205/Kol/2014 (िनधा"रणवष" / Assessment Year: 2007-08 Oberoi Buildings & Investments Vs. A.C.I.T, Circle – 5, Kolkata Pvt. Ltd. 4, Mangoe Lane, 6Th Floor, Kolkata – 700 001. "थायीलेखासं./जीआइआरसं./Pan/Gir No. : Aaaco 2860 R (Assessee) .. (Respondent) Assesseeby : Shri A. K. Gupta, Fca Respondent By :Shri Kalyannath, Acit(Dr) सुनवाईकीतारीख/ Date Of Hearing : 07/09/2017 घोषणाकीतारीख/Date Of Pronouncement : 04/10/2017 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am: The Captioned Two Appeals Filed By The Assessee(Group Companies` Appeals), Pertaining To Assessment Year 2007-08, In Respect Of M/S Oberoi Investments Pvt. Ltd. Andm/S Oberoi Buildings & Investments Pvt. Ltd., Are Directed Against The Orders Passed By The Commissioner Of Income Tax (Appeals)-Vi, Which Oberoi Investments Pvt. Ltd. & Oberoi Buildings & Investments Pvt. Ltd.

For Appellant: Shri A. K. Gupta, FCAFor Respondent: Shri Kalyannath, ACIT(DR)
Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “D”, BENCH KOLKATA BEFORE SHRI A. T VARKEY, JM &DR. A.L.SAINI, AM आयकरअपीलसं./ITA No.1204/Kol/2014 (िनधा"रणवष" / Assessment Year: 2007-08 Vs. A.C.I.T, Circle – 5, Kolkata Oberoi Investments Pvt. Ltd. 4, Mangoe Lane, 6th Floor, Kolkata – 700 001. "थायीलेखासं./जीआइआरसं./PAN/GIR No. : AAACO 2859E (ASSESSEE) .. (RESPONDENT) & आयकरअपीलसं./ITA No.1205/Kol/2014 (िनधा"रणवष" / Assessment Year: 2007-08 Oberoi Buildings & Investments Vs. A.C.I.T, Circle – 5, Kolkata Pvt. Ltd. 4, Mangoe Lane, 6th Floor, Kolkata – 700 001. "थायीलेखासं./जीआइआरसं./PAN/GIR No. : AAACO 2860 R (ASSESSEE) .. (…

Oberoi Investments Pvt. Ltd., Kolkata vs. ACIT Cir-5, Kolkata

In the result, the appeal filed by the assessee (Ground No

ITA 1204/KOL/2014[2007-2008]Status: DisposedITAT Kolkata04 Oct 2017AY 2007-2008

Bench: Shri A. T Varkey, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1204/Kol/2014 (िनधा"रणवष" / Assessment Year: 2007-08 Vs. A.C.I.T, Circle – 5, Kolkata Oberoi Investments Pvt. Ltd. 4, Mangoe Lane, 6Th Floor, Kolkata – 700 001. "थायीलेखासं./जीआइआरसं./Pan/Gir No. : Aaaco 2859E (Assessee) .. (Respondent) & आयकरअपीलसं./Ita No.1205/Kol/2014 (िनधा"रणवष" / Assessment Year: 2007-08 Oberoi Buildings & Investments Vs. A.C.I.T, Circle – 5, Kolkata Pvt. Ltd. 4, Mangoe Lane, 6Th Floor, Kolkata – 700 001. "थायीलेखासं./जीआइआरसं./Pan/Gir No. : Aaaco 2860 R (Assessee) .. (Respondent) Assesseeby : Shri A. K. Gupta, Fca Respondent By :Shri Kalyannath, Acit(Dr) सुनवाईकीतारीख/ Date Of Hearing : 07/09/2017 घोषणाकीतारीख/Date Of Pronouncement : 04/10/2017 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am: The Captioned Two Appeals Filed By The Assessee(Group Companies` Appeals), Pertaining To Assessment Year 2007-08, In Respect Of M/S Oberoi Investments Pvt. Ltd. Andm/S Oberoi Buildings & Investments Pvt. Ltd., Are Directed Against The Orders Passed By The Commissioner Of Income Tax (Appeals)-Vi, Which Oberoi Investments Pvt. Ltd. & Oberoi Buildings & Investments Pvt. Ltd.

For Appellant: Shri A. K. Gupta, FCAFor Respondent: Shri Kalyannath, ACIT(DR)
Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “D”, BENCH KOLKATA BEFORE SHRI A. T VARKEY, JM &DR. A.L.SAINI, AM आयकरअपीलसं./ITA No.1204/Kol/2014 (िनधा"रणवष" / Assessment Year: 2007-08 Vs. A.C.I.T, Circle – 5, Kolkata Oberoi Investments Pvt. Ltd. 4, Mangoe Lane, 6th Floor, Kolkata – 700 001. "थायीलेखासं./जीआइआरसं./PAN/GIR No. : AAACO 2859E (ASSESSEE) .. (RESPONDENT) & आयकरअपीलसं./ITA No.1205/Kol/2014 (िनधा"रणवष" / Assessment Year: 2007-08 Oberoi Buildings & Investments Vs. A.C.I.T, Circle – 5, Kolkata Pvt. Ltd. 4, Mangoe Lane, 6th Floor, Kolkata – 700 001. "थायीलेखासं./जीआइआरसं./PAN/GIR No. : AAACO 2860 R (ASSESSEE) .. (…

PAN Oleo Enterprise P.Ltd, Mumbai vs. Asst CIT 10(3)(2), Mumbai

The appeal of the assessee is allowed

ITA 569/MUM/2016[2012-13]Status: DisposedITAT Mumbai25 Sept 2017AY 2012-13

Bench: Shri G.S. Pannu, Am & Shri Ravish Sood, Jm आयकर अपील सं./ I.T.A. No. 569/Mum/2016 (निर्धारण वर्ा / Assessment Year: 2012-13) Pan Oleo Enterprises Pvt. Ltd. The Asst. Commissioner 202, Quantum Towers Of Income-Tax 10(3)(2) बिधम/ Rambaug Lane, S. V. Road C-10, Pratyakshakar Vs. Malad (West), Bhavan, Bandra-Kurla Mumbai-400 064 Complex Mumbai- 400 051 स्थायीलेखासं./जीआइआरसं./ Pan/Gir No. Aaecp9927E (अपीलाथी/Appellant) (प्रत्यथी / Respondent) :

For Appellant: Shri Jignesh R. Shah, A.RFor Respondent: Shri V. Justin, D.R
Section 143(2)Section 143(3)

…the assessee from claiming depreciation, even if it is registered in the name of its directors. In this regard, he placed reliance on the following case law:- P a g e | 6 ITA No. 569/Mum/2016 AY: 2012-13 Pan Oleo Enterprises Vs. ACIT (a) Poddar cements Ltd (226 ITR 625) (b) ITO Vs. Electro Ferro Alloys Ltd (2012)(13 ITR (Tri) 594 (c) CIT Vs. Aravali Finlease Ltd (2012)341 ITR 282 (Guj) (d) CIT Vs. Basti Sugar Mills Co. Ltd (2002)(257 ITR 88)(Delhi) 24. On the contrary, the Ld D.R submitted that the co-ordinate bench of Tribunal has confirmed identical disallowance made in the assessee’s own case in AY 2007-08.…

Income Tax Officer 10(3) -1, Mumbai vs. Alfreight International Pvt. Ltd., Navi Mumbai

The appeal is allowed

ITA 5578/MUM/2013[2009-10]Status: DisposedITAT Mumbai25 Sept 2017AY 2009-10

Bench: Shri G.S. Pannu, Am & Shri Ravish Sood, Jm आयकर अपील सं./ I.T.A. No. 5578/Mum/2013 (निर्धारण वर्ा / Assessment Year: 2009-10) Income Tax Officer-10(3)-1, M/S Alfreight International Room No. 456, 4Th Floor, Pvt. Ltd. 504, Mayuresh बिधम/ Aayakar Bhavan, M.K. Road Cosmos, Plot No. 37, Vs. Mumbai- 400 020 Sector-11, Cbd Belapur Navi Mumbai-400 61 स्थायीलेखासं./जीआइआरसं./ Pan/Gir No. Aaaca5383K (अपीलाथी/Revenue) (प्रत्यथी / Assessee) :

For Appellant: Shri M. Subramanian, A.RFor Respondent: Shri V. Justin, D.R
Section 143(2)Section 143(3)Section 50

…P a g e | 1 ITA No. 5578/Mum/2013 AY: 2009-10 ITO Vs. M/s Alfreight International IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, MUMBAI BEFORE SHRI G.S. PANNU, AM AND SHRI RAVISH SOOD, JM आयकर अपील सं./ I.T.A. No. 5578/Mum/2013 (निर्धारण वर्ा / Assessment Year: 2009-10) Income Tax Officer-10(3)-1, M/s Alfreight International Room No. 456, 4th Floor, Pvt. Ltd. 504, Mayuresh बिधम/ Aayakar Bhavan, M.K. Road Cosmos, Plot No. 37, Vs. Mumbai- 400 020 Sector-11, CBD Belapur Navi Mumbai-400 61 स्थायीलेखासं./जीआइआरसं./ PAN/GIR No. AAACA5383K (अपीलाथी/Revenue) (प्रत्यथी / Assessee) : अपीलाथी की ओर से/Revenue by : Shri…

West Gujarat Expressway Ltd, Mumbai vs. DCIT 14(3)(2), Mumbai

In the result, the appeal of Revenue is dismissed and that of assessee is allowed

ITA 664/MUM/2015[2010-11]Status: DisposedITAT Mumbai26 May 2017AY 2010-11

Bench: Sri Mahavir Singh, Jm & Sri N.K. Pradhan, Am Dy. Commissioner Of Income Tax, West Gujarat Expressway Circle 14(3)(1) Ltd. 453 Aayakar Bhavan, M.K. Marg The Il & Fs Financial Centre, Mumbai-400020 Vs. Plot No. C-22, G Block Bkc Complex, Bandra (E) Mumbai-400051 Pin No. Aaacw5862D Appellant .. Respondent West Gujarat Expressway Ltd. Dy. Commissioner Of Income Tax, The Il & Fs Financial Centre, Circle 14(3)(1) Plot No. C-22, G Block Bkc 453 Aayakar Bhavan, M.K. Vs. Complex, Bandra (E) Marg Mumbai-400051 Mumbai-400020 Pin No. Aaacw5862D Appellant .. Respondent

Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SRI MAHAVIR SINGH, JM AND SRI N.K. PRADHAN, AM Dy. Commissioner of Income Tax, West Gujarat Expressway Circle 14(3)(1) Ltd. 453 Aayakar Bhavan, M.K. Marg The IL & FS Financial Centre, Mumbai-400020 Vs. Plot No. C-22, G Block BKC Complex, Bandra (E) Mumbai-400051 PIN No. AAACW5862D Appellant .. Respondent West Gujarat Expressway Ltd. Dy. Commissioner of Income Tax, The IL & FS Financial Centre, Circle 14(3)(1) Plot No. C-22, G Block BKC 453 Aayakar Bhavan, M.K. Vs. Complex, Bandra (E) Marg Mumbai-400051 Mumbai-400020 PIN No. AAACW5862D Appellant .. Resp…

DCIT 14(3)(1), Mumbai vs. West Gujarat Expressway Ltd, Mumbai

In the result, the appeal of Revenue is dismissed and that of assessee is allowed

ITA 634/MUM/2015[2010-11]Status: DisposedITAT Mumbai26 May 2017AY 2010-11

Bench: Sri Mahavir Singh, Jm & Sri N.K. Pradhan, Am Dy. Commissioner Of Income Tax, West Gujarat Expressway Circle 14(3)(1) Ltd. 453 Aayakar Bhavan, M.K. Marg The Il & Fs Financial Centre, Mumbai-400020 Vs. Plot No. C-22, G Block Bkc Complex, Bandra (E) Mumbai-400051 Pin No. Aaacw5862D Appellant .. Respondent West Gujarat Expressway Ltd. Dy. Commissioner Of Income Tax, The Il & Fs Financial Centre, Circle 14(3)(1) Plot No. C-22, G Block Bkc 453 Aayakar Bhavan, M.K. Vs. Complex, Bandra (E) Marg Mumbai-400051 Mumbai-400020 Pin No. Aaacw5862D Appellant .. Respondent

Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SRI MAHAVIR SINGH, JM AND SRI N.K. PRADHAN, AM Dy. Commissioner of Income Tax, West Gujarat Expressway Circle 14(3)(1) Ltd. 453 Aayakar Bhavan, M.K. Marg The IL & FS Financial Centre, Mumbai-400020 Vs. Plot No. C-22, G Block BKC Complex, Bandra (E) Mumbai-400051 PIN No. AAACW5862D Appellant .. Respondent West Gujarat Expressway Ltd. Dy. Commissioner of Income Tax, The IL & FS Financial Centre, Circle 14(3)(1) Plot No. C-22, G Block BKC 453 Aayakar Bhavan, M.K. Vs. Complex, Bandra (E) Marg Mumbai-400051 Mumbai-400020 PIN No. AAACW5862D Appellant .. Resp…