Amalgamated Electricity Company Limited v. Commissioner of Income-tax

97 ITR 334High Court1974#5100 most cited

What is Amalgamated Electricity Company Limited v. Commissioner of Income-tax authority for?

Amounts transferred to contingency reserve and dividend control reserve are allowed as deductions on revenue account.

23

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2017 to 2025.

Also referred to as

Amalgamated Electricity Company Limited v. CIT · contingency reserve · dividend control reserve · deduction on revenue account · income tax act

Sections most often in play

Section 1961Section 139(1)Section 44ADSection 143(3)Section 147Section 153ASection 80A(5)Section 80AC

Issues it is cited on

section 80ia(7)section 10basection 158b(b)section 80a(5)section 153a(1)(a)fresh tangible materialsection 80ia(4)section 158bbdeduction under section 80iasection 10bsection 80acdeduction u/s 80ia

Judgments citing Amalgamated Electricity Company Limited v. Commissioner of Income-tax

Reena Engineers and Contractors Private Ltd, Panaji vs. ACIT, Central Circle-1, Calicut

In the result, the appeals filed by the assessee stand partly allowed statistical purposes

ITA 271/COCH/2021[2014-2015]Status: DisposedITAT Cochin31 Jul 2025AY 2014-2015

Bench: Shri Inturi Rama Rao, Am & Shri Sonjoy Sarma, Jm

For Appellant: Shri G. Surendranath Rao, CAFor Respondent: Shri Suresh Sivanandan, CIT-DR
Section 132Section 139(1)Section 143Section 143(3)Section 153Section 153ASection 80

…llant - assessee did not claim the deductions on account of sums transferred to contingency reserve and dividend control reserve. However, when the matter was pending before the Tribunal, this Court in the case of Amalgamated Electricity Co.Ltd. v. CIT [1974] 97 ITR 334 held that the amounts transferred to contingency reserve and dividend control reserve are allowed as deductions on revenue account. It is in view of the decision of this Court in the case of Amalgamated Electricity Co. Ltd. (supra) that the assessee sought to raise additional grounds before the Tribunal. However, the Tribunal refused to grant leav…

Reena Engineers and Contractors Private Ltd, Panaji vs. ACIT, Central Circle-1, Calicut

In the result, the appeals filed by the assessee stand partly allowed statistical purposes

ITA 270/COCH/2021[2016-2017]Status: DisposedITAT Cochin31 Jul 2025AY 2016-2017

Bench: Shri Inturi Rama Rao, Am & Shri Sonjoy Sarma, Jm

For Appellant: Shri G. Surendranath Rao, CAFor Respondent: Shri Suresh Sivanandan, CIT-DR
Section 132Section 139(1)Section 143Section 143(3)Section 153Section 153ASection 80

…llant - assessee did not claim the deductions on account of sums transferred to contingency reserve and dividend control reserve. However, when the matter was pending before the Tribunal, this Court in the case of Amalgamated Electricity Co.Ltd. v. CIT [1974] 97 ITR 334 held that the amounts transferred to contingency reserve and dividend control reserve are allowed as deductions on revenue account. It is in view of the decision of this Court in the case of Amalgamated Electricity Co. Ltd. (supra) that the assessee sought to raise additional grounds before the Tribunal. However, the Tribunal refused to grant leav…

Reena Engineers and Contractors Private Ltd, Panaji vs. ACIT, Central Circle-1, Calicut

In the result, the appeals filed by the assessee stand partly allowed statistical purposes

ITA 269/COCH/2021[2015-2016]Status: DisposedITAT Cochin31 Jul 2025AY 2015-2016

Bench: Shri Inturi Rama Rao, Am & Shri Sonjoy Sarma, Jm

For Appellant: Shri G. Surendranath Rao, CAFor Respondent: Shri Suresh Sivanandan, CIT-DR
Section 132Section 139(1)Section 143Section 143(3)Section 153Section 153ASection 80

…llant - assessee did not claim the deductions on account of sums transferred to contingency reserve and dividend control reserve. However, when the matter was pending before the Tribunal, this Court in the case of Amalgamated Electricity Co.Ltd. v. CIT [1974] 97 ITR 334 held that the amounts transferred to contingency reserve and dividend control reserve are allowed as deductions on revenue account. It is in view of the decision of this Court in the case of Amalgamated Electricity Co. Ltd. (supra) that the assessee sought to raise additional grounds before the Tribunal. However, the Tribunal refused to grant leav…

Reena Engineers and Contractors Private Ltd, Panaji vs. ACIT, Central Circle-1, Calicut

In the result, the appeals filed by the assessee stand partly allowed statistical purposes

ITA 268/COCH/2021[2013-2014]Status: DisposedITAT Cochin31 Jul 2025AY 2013-2014

Bench: Shri Inturi Rama Rao, Am & Shri Sonjoy Sarma, Jm

For Appellant: Shri G. Surendranath Rao, CAFor Respondent: Shri Suresh Sivanandan, CIT-DR
Section 132Section 139(1)Section 143Section 143(3)Section 153Section 153ASection 80

…llant - assessee did not claim the deductions on account of sums transferred to contingency reserve and dividend control reserve. However, when the matter was pending before the Tribunal, this Court in the case of Amalgamated Electricity Co.Ltd. v. CIT [1974] 97 ITR 334 held that the amounts transferred to contingency reserve and dividend control reserve are allowed as deductions on revenue account. It is in view of the decision of this Court in the case of Amalgamated Electricity Co. Ltd. (supra) that the assessee sought to raise additional grounds before the Tribunal. However, the Tribunal refused to grant leav…

Reena Engineers and Contractors Private Ltd, Panaji vs. ACIT, Central Circle-1, Calicut

In the result, the appeals filed by the assessee stand partly

ITA 267/COCH/2021[2012-2013]Status: DisposedITAT Cochin31 Jul 2025AY 2012-2013

Bench: Shri Inturi Rama Rao, Am & Shri Sonjoy Sarma, Jm

For Appellant: Shri G. Surendranath Rao, CAFor Respondent: Shri Suresh Sivanandan, CIT-DR
Section 132Section 139(1)Section 143Section 143(3)Section 153Section 153ASection 80

…pellant assessee did not claim the deductions on account of sums transferred to contingency reserve and dividend control reserve. However, when the matter was pending before the Tribunal, this Court in the case of Amalgamated Electricity Co.Ltd. v. CIT [1974] 97 ITR 334 held that the amounts transferred to contingency reserve and dividend control reserve are allowed as deductions on revenue account. It is in view of the decision of this Court in the case of Amalgamated Electricity Co. Ltd. (supra) that the assessee sought to raise additional grounds before the Tribunal. However, the Tribunal refused to grant leav…

Gangunaidu Sabbavarapu, Visakhapatnam vs. Income Tax Officer, Ward-2(5), Visakhpatnam

ITA 177/VIZ/2025[2023-24]Status: DisposedITAT Visakhapatnam27 Jun 2025AY 2023-24
Section 10(37)Section 139(1)Section 143(1)Section 2(37)Section 250Section 254Section 96

…contingencies reserve and dividend and tariff reserve either before the Income Tax Officer or before the Appellate Assistant Commissioner in appeal. Subsequently, this Court had, in Amalgamated Electricity Company Limited v. Commissioner of Income-tax, (1974) 97 ITR 334, held that such amounts represented allowable deductions on revenue account. The appellant, therefore, raised a new claim and additional grounds before the Tribunal in that connection. The Tribunal rejected the same. The second question which was raised in the reference before the Division Bench was as under :- "(2) Whether, on the facts and in th…

DCIT, Trivandrum vs. Brahmos Aerospace( Thiruvananthapuram) Ltd, Trivandrum

In the result, the appeal filedby

ITA 742/COCH/2019[2002-03]Status: HeardITAT Cochin23 Feb 2022AY 2002-03

Bench: Shri George Mathan, Jm & Shri Ramit Kochar, Am Deputy Commissioner Brahmos Aerospace Of Income Tax, (Thiruvananthapuram) Ltd., Circle-1(1), V. Chackai, Thiruvananthapuram Beach Post, Kerala Tiruvananthapuram, Kerala Pan – Aabck2217K Appellant Respondent

For Appellant: Smt. Jamunna Devi, Sr.DRFor Respondent: Shri Abraham Joseph Markos, Adv
Section 139(1)Section 139(3)Section 143(2)Section 143(3)Section 44ASection 80

…it was required to transfer to contingencies reserve and dividend and tariff reserve either before the Income Tax Officer or before the Appellate Assistant Commissioner in appeal. Subsequently, this Court had, in Amalgamated Electricity Co. Ltd. v. CIT [1974] 97 ITR 334, held that such amounts represented allowable deductions on revenue account. The appellant, therefore, raised a new claim and additional grounds before the Tribunal in that connection. The Tribunal rejected the same. The second question which was raised in the reference before the Division Bench was as under :- "(2) Whether, on the facts and in th…

Income Tax Officer, Jagdalpur vs. Shri Raja Vikram, Bastar

ITA 347/RPR/2014[2007-08]Status: DisposedITAT Raipur02 Feb 2022AY 2007-08

Bench: Shri Ravish Sood & Shri Jamlappa D Battullआयकर अपीऱ सं. / Ita No. 347/Rpr/2014 नििाारण वर्ा / Assessment Year : 2007-08 The Income Tax Officer Dist. Bastar (C.G) .......अपीलार्थी / Appellant बिाम / V/S. Shri Raja Vikram P/O. M/S. Vikas Associate ( Engineers), Jeypore Road, Kumharpara, Jagdalpur, Dist. Bastar (C.G) Pan : Acopr6013N ……प्रत्यर्थी / Respondent

For Appellant: Shri S.R. Rao, AdvocateFor Respondent: Shri G.N Singh, DR
Section 139(1)Section 139(4)Section 143(1)Section 147Section 148Section 154Section 2(14)(iii)Section 54B

…contingencies reserve and dividend and tariff reserve either before the Income Tax Officer or before the Appellate Assistant Commissioner in appeal. Subsequently, this Court had, in Amalgamated Electricity Company Limited v. Commissioner of Income-tax, (1974) 97 ITR 334, held that such amounts represented allowable deductions on revenue account. The appellant, therefore, raised a new claim and additional grounds before the Tribunal in that connection. The Tribunal rejected the same. The second question which was raised in the reference before the Division Bench was as under :- "(2) Whether, on the facts and in th…

DCIT-11(1)(2), Mumbai vs. M/S. Sangam India Ltd., Mumbai

Appeal stand dismissed whereas the assessee‟s appeal stands partly allowed for statistical purposes

ITA 1490/MUM/2019[2015-16]Status: DisposedITAT Mumbai26 Jul 2021AY 2015-16

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am (Hearing Through Video Conferencing Mode) आयकरअपील िं./ I.T.A. No.1490/Mum/2019 (धििाारण वर्ा / Assessment Year: 2015-16) Dcit-11(1)(2) M/S. Sangam India Ltd. Gf, Room No.1 306, „B‟ Wing बिाम/ Aaykar Bhavan, M.K. Road Dynasty Business Park Vs. Mumbai-400 020 J.B. Nagar, A.K. Road Andheri (E), Mumbai-400 059 स्थायीलेखा िं./ जीआइआर िं./ Pan/Gir No. Aaccs-0486-K (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : & Co No.01/Mum/2021 (धििाारण वर्ा / Assessment Year: 2015-16) M/S. Sangam India Ltd. Dcit-11(1)(2) 306, „B‟Wing Gf, Room No.1 बिाम/ Dynasty Business Park Aaykar Bhavan, M.K. Road Vs. J.B. Nagar, A.K. Road Mumbai-400 020 Andheri (E), Mumbai-400 059 स्थायीलेखा िं./ जीआइआर िं./ Pan/Gir No. Aaccs-0486-K (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : Assessee By : Shri Dharmesh Shah-Ld. Ar Revenue By : Shri Ajit Kumar Shrivastava-Ld. Cit-Dr ुनवाई की तारीख/ : 02/07/2021 Date Of Hearing घोषणा की तारीख / : 26/07/2021 Date Of Pronouncement

For Appellant: Shri Dharmesh Shah-Ld. ARFor Respondent: Shri Ajit Kumar Shrivastava-Ld
Section 2(24)

…1 M/s Sangam India Limited Assessment Year: 2015-16 आयकर अपीलीय अधिकरण “जी” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI माननीय श्री महावीर स िंह, उपाध्यक्ष एवुं माननीय श्री मनोज कुमार अग्रवाल ,लेखा दस्य के मक्ष। BEFORE HON’BLE SHRI MAHAVIR SINGH, VP AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM (Hearing Through Video Conferencing Mode) आयकरअपील िं./ I.T.A. No.1490/Mum/2019 (धििाारण वर्ा / Assessment Year: 2015-16) DCIT-11(1)(2) M/s. Sangam India Ltd. GF, Room No.1 306, „B‟ Wing बिाम/ Aaykar Bhavan, M.K. Road Dynasty Business Park Vs. Mumbai-400 020 J.B. Nagar, A.K. Road Andheri (E), Mu…

The Sarswat Co-Operative Bank Ltd., Mumbai vs. ITO 1 (3)(1), Mumbai

ITA 6609/MUM/2019[2013-14]Status: DisposedITAT Mumbai28 Jun 2021AY 2013-14

Bench: Shri S. Rifaur Rahman & Shri Ravish Sood

For Appellant: Shri Anil Sathe, A.RFor Respondent: Shri Neehar Pandey, CIT D.R
Section 143(3)Section 14ASection 3Section 36(1)(vii)Section 36(1)(viia)

…contingencies reserve and dividend and tariff reserve either before the Income Tax Officer or before the Appellate Assistant Commissioner in appeal. Subsequently, this Court had, in Amalgamated Electricity Company Limited v. Commissioner of Income-tax, (1974) 97 ITR 334, held that such amounts represented allowable deductions on revenue account. The appellant, therefore, raised a new claim and additional grounds before the Tribunal in that connection. The Tribunal rejected the same. The second question which was raised in the reference before the Division Bench was as under :- "(2) Whether, on the facts and in th…

Ajanta Pharma Ltd., Mumbai vs. DCIT, CC-7(2), Mumbai

The appeal of the assessee is allowed in terms of our aforesaid observations

ITA 4785/MUM/2019[2015-16]Status: DisposedITAT Mumbai25 May 2021AY 2015-16

Bench: Shri Rajesh Kumar () & Shri Ravish Sood () Ita No.4784 & 4785/Mum/2019 (Assessment Years: 2015-16 & 2016-17) M/S Ajanta Pharma Ltd. Dy. Commissioner Of 98, Ajanta House, Vs. Income-Tax-Central Circle 6(2),19Th Floor, Air India Govt. Industrial Area, Hindustan Naka, Building, Nariman Point, Charkop,Kandivli (West), Mumbai – 400 021. Mumbai – 400 067. Pan No. Aaaca5579P (Appellant) (Respondent)

For Appellant: Shri J.D. Mistri, Senior AdvocateFor Respondent: Shri Rajeev Harit, CIT D.R
Section 143(2)Section 37(1)

…contingencies reserve and dividend and tariff reserve either before the Income Tax Officer or before the Appellate Assistant Commissioner in appeal. Subsequently, this Court had, in Amalgamated Electricity Company Limited v. Commissioner of Income-tax, (1974) 97 ITR 334, held that such amounts represented allowable deductions on revenue account. The appellant, therefore, raised a new claim and additional grounds before the Tribunal in that connection. The Tribunal rejected the same. The second question which was raised in the reference before the Division Bench was as under :- M/s Ajanta Pharma Ltd. Vs. Dy. CIT,…

Ajanta Pharma Ltd., Mumbai vs. DCIT, CC-7(2), Mumbai

The appeal of the assessee is allowed in terms of our aforesaid observations

ITA 4784/MUM/2019[2016-17]Status: DisposedITAT Mumbai25 May 2021AY 2016-17

Bench: Shri Rajesh Kumar () & Shri Ravish Sood () Ita No.4784 & 4785/Mum/2019 (Assessment Years: 2015-16 & 2016-17) M/S Ajanta Pharma Ltd. Dy. Commissioner Of 98, Ajanta House, Vs. Income-Tax-Central Circle 6(2),19Th Floor, Air India Govt. Industrial Area, Hindustan Naka, Building, Nariman Point, Charkop,Kandivli (West), Mumbai – 400 021. Mumbai – 400 067. Pan No. Aaaca5579P (Appellant) (Respondent)

For Appellant: Shri J.D. Mistri, Senior AdvocateFor Respondent: Shri Rajeev Harit, CIT D.R
Section 143(2)Section 37(1)

…contingencies reserve and dividend and tariff reserve either before the Income Tax Officer or before the Appellate Assistant Commissioner in appeal. Subsequently, this Court had, in Amalgamated Electricity Company Limited v. Commissioner of Income-tax, (1974) 97 ITR 334, held that such amounts represented allowable deductions on revenue account. The appellant, therefore, raised a new claim and additional grounds before the Tribunal in that connection. The Tribunal rejected the same. The second question which was raised in the reference before the Division Bench was as under :- M/s Ajanta Pharma Ltd. Vs. Dy. CIT,…

Thimmareddy Krishnareddy, Bangalore vs. Commissioner of Income Tax, Bangalore

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

ITA 2650/BANG/2019[2006-07]Status: DisposedITAT Bangalore04 Jan 2021AY 2006-07

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Year: 2006-07

For Appellant: Shri Anand Bhat, CAFor Respondent: Shri Pradeep Kumar, CIT(DR)(ITAT), Bengaluru
Section 250Section 54BSection 54F

…cies reserve and dividend and tariff reserve either before the Income Tax Officer or before the Appellate Assistant Commissioner in appeal. Subsequently, the Hon'ble Bombay High Court in the case of Page 7 of 12 Amalgamated Electricity Co. Ltd. v. CIT [1974] 97 ITR 334, held that such amounts represented allowable deductions on revenue account. The appellant, therefore, raised a new claim and additional grounds before the Tribunal in that connection. The Tribunal rejected the same. The second question which was raised in the reference before the Hon'ble Division Bench of Mumbai High Court was as under:- "(2) Whe…

Bnp Paribas India Holding P. Ltd., Mumbai vs. ACIT -14(1)(1), Mumbai

ITA 1496/MUM/2020[2017-78]Status: DisposedITAT Mumbai12 Oct 2020AY 2017-78

Bench: Shri Pramod Kumar & Shri Ravish Sood

For Appellant: Shri Farrokh V. Irani , ARFor Respondent: Shri Rahul Raman, CIT-DR
Section 143(1)Section 143(1)(a)Section 143(3)Section 156Section 234BSection 234C

…contingencies reserve and dividend and tariff reserve either before the Income Tax Officer or before the Appellate Assistant Commissioner in appeal. Subsequently, this Court had, in Amalgamated Electricity Company Limited v. Commissioner of Income-tax, (1974) 97 ITR 334, held that such amounts represented allowable deductions on revenue account. The appellant, therefore, raised a new claim and additional grounds before the Tribunal in that connection. The Tribunal rejected the same. The second question which was raised in the reference before the Division Bench was as under :- "(2) Whether, on the facts and in th…

Futura Polysters Ltd, Mumbai vs. Income Tax Officer 6(3)(1), Mumbai

ITA 1460/MUM/2018[2013-14]Status: DisposedITAT Mumbai16 Jul 2020AY 2013-14

Bench: Shri Pramod Kumar & Shri Ravish Soodita Nos.1459-1460/Mum/2018 (Assessment Year: 2013-14) Futura Polyster Limited Ito 6(3)(1) B-22, T.V. Indl Estate, Aayakar Bhavan, Vs. S.K. Ahire Marg, Worli, M.K. Road, Churchgate, Mumbai – 400 030 Mumbai – 400 020 Pan – Aaaci3404K (Appellant) (Respondent) Appellant By: Shri Vijay Mehta & Shri Anuj Kisnadwala, A.R‘S Respondent By: Shri Debashis Chanda, D.R Date Of Hearing: 15.01.2020 Date Of Pronouncement: 16.07.2020

For Appellant: Shri Vijay Mehta &For Respondent: Shri Debashis Chanda, D.R
Section 143(3)Section 154Section 41(1)(a)Section 43BSection 68

…contingencies reserve and dividend and tariff reserve either before the Income Tax Officer or before the Appellate Assistant Commissioner in appeal. Subsequently, this Court had, in Amalgamated Electricity Company Limited v. Commissioner of Income-tax, (1974) 97 ITR 334, held that such amounts represented allowable deductions on revenue account. The appellant, therefore, raised a new claim and additional grounds before the Tribunal in that connection. The Tribunal rejected the same. The second question which was raised in the reference before the Division Bench was as under :- "(2) Whether, on the facts and in th…

Futura Polysters Ltd, Mumbai vs. Income Tax Officer 6(3)(1), Mumbai

ITA 1459/MUM/2018[2013-14]Status: DisposedITAT Mumbai16 Jul 2020AY 2013-14

Bench: Shri Pramod Kumar & Shri Ravish Soodita Nos.1459-1460/Mum/2018 (Assessment Year: 2013-14) Futura Polyster Limited Ito 6(3)(1) B-22, T.V. Indl Estate, Aayakar Bhavan, Vs. S.K. Ahire Marg, Worli, M.K. Road, Churchgate, Mumbai – 400 030 Mumbai – 400 020 Pan – Aaaci3404K (Appellant) (Respondent) Appellant By: Shri Vijay Mehta & Shri Anuj Kisnadwala, A.R‘S Respondent By: Shri Debashis Chanda, D.R Date Of Hearing: 15.01.2020 Date Of Pronouncement: 16.07.2020

For Appellant: Shri Vijay Mehta &For Respondent: Shri Debashis Chanda, D.R
Section 143(3)Section 154Section 41(1)(a)Section 43BSection 68

…contingencies reserve and dividend and tariff reserve either before the Income Tax Officer or before the Appellate Assistant Commissioner in appeal. Subsequently, this Court had, in Amalgamated Electricity Company Limited v. Commissioner of Income-tax, (1974) 97 ITR 334, held that such amounts represented allowable deductions on revenue account. The appellant, therefore, raised a new claim and additional grounds before the Tribunal in that connection. The Tribunal rejected the same. The second question which was raised in the reference before the Division Bench was as under :- "(2) Whether, on the facts and in th…

Prism Cement Ltd, Mumbai vs. Asst CIT Cen Cir 34, Mumbai

In the result, the appeal of Revenue is dismissed and the appeal of the assessee is partly allowed for statistical purposes

ITA 2545/MUM/2015[2010-11]Status: DisposedITAT Mumbai20 Sept 2019AY 2010-11

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

For Appellant: Shri NS JangpangiFor Respondent: Shri S.E.Dastur, AR
Section 143(3)Section 401A(9)Section 40A(9)

…tricity Co. Ltd. VS. CIT [1993] 199 ITR 351 (Born), the assessee did not claim deduction of amounts transferred to Reserve' as per Electricity Supply Act either before ITO or AAC. Subsequently, the High Court in case of Amalgamated Electricity Co. Ltd. [1974] 97 ITR 334 (Born) held that such amounts represent allowable deduction on revenue account. In view of above, the additional grounds were allowed. There was no dispute in this case regarding the amount transferred to reserve. Only the legal claim of deduction was made fresh. ITA Nos. 1757&2545/Mum/2015 37 | P a g e 21. Therefore, the decision of the Supreme…

DCIT CC 6(1) (Earlier CC-34), Mumbai vs. Prism Cement Ltd, Mumbai

In the result, the appeal of Revenue is dismissed and the appeal of the assessee is partly allowed for statistical purposes

ITA 1757/MUM/2015[2010-11]Status: DisposedITAT Mumbai20 Sept 2019AY 2010-11

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

For Appellant: Shri NS JangpangiFor Respondent: Shri S.E.Dastur, AR
Section 143(3)Section 401A(9)Section 40A(9)

…tricity Co. Ltd. VS. CIT [1993] 199 ITR 351 (Born), the assessee did not claim deduction of amounts transferred to Reserve' as per Electricity Supply Act either before ITO or AAC. Subsequently, the High Court in case of Amalgamated Electricity Co. Ltd. [1974] 97 ITR 334 (Born) held that such amounts represent allowable deduction on revenue account. In view of above, the additional grounds were allowed. There was no dispute in this case regarding the amount transferred to reserve. Only the legal claim of deduction was made fresh. ITA Nos. 1757&2545/Mum/2015 37 | P a g e 21. Therefore, the decision of the Supreme…

Hemant G. Bohra, Mumbai vs. ACIT 19(1) (Erstwhile-19(3), Mumbai

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

ITA 4197/MUM/2018[2011-12]Status: DisposedITAT Mumbai17 Jul 2019AY 2011-12

Bench: Shri Mahavir Singh, Jm & Shri M.Balaganesh, Am Shri Hemant G. Bohra Vs. Asst. Commissioner Of Shop No.15, 52/52A, Income Tax – 19(1) Room No.203, 2Nd Floor Nanubhai Desai Road Islampura Street Matru Mandir, Mumbai – 400 004 Tardeo, Mumbai – 400 007 Pan/Gir No.Adnpb4773D (Appellant) .. (Respondent)

Section 143(1)Section 143(2)Section 143(3)Section 43BSection 57

…contingencies reserve and dividend and tariff reserve either before the Income Tax Officer or before the Appellate Assistant Commissioner in appeal. Subsequently, this Court had, in Amalgamated Electricity Company Limited v. Commissioner of Income-tax, (1974) 97 ITR 334, held that such amounts represented allowable deductions on revenue account. The appellant, therefore, raised a new claim and additional grounds before the Tribunal in that connection. The Tribunal rejected the same. The second question which was raised in the reference before the Division Bench was as under :- “(2) Whether, on the facts and in th…

Allseas Marine Contractors Sa, Mumbai vs. DDIT (It) 1(1), Mumbai

In the result, the appeal is partly allowed

ITA 4656/MUM/2015[2008-09]Status: DisposedITAT Mumbai07 Sept 2018AY 2008-09

Bench: Shri Saktijit Dey () & Shri N.K. Pradhan () Assessment Year: 2008-09 Allseas Marine Contractors Dy. Director Of Income Sa C/O Nangia& Company Tax-(International) Vs. Unit No. 1101, 11Th Floor, B Taxation)-1(1) Wing, Peninsula Business Mumbai. Park, Ganpatraokadam Marg, Lower Parel, Mumbai-400013. Pan No. Aagca0967P Appellant Respondent Assessee By : Mr. Porus Kaka, Senior Advocate Revenue By : Mr. M.V. Raj Guru, Dr Date Of Hearing : 11/06/2018 Date Of Pronouncement : 07/09/2018

For Appellant: Mr. Porus Kaka, Senior AdvocateFor Respondent: Mr. M.V. Raj Guru, DR
Section 143(3)Section 44BSection 5Section 9

…ency reserve and dividend and tariff reserve during the AYs 1962-1963 to 1971-1972. It did not claim these amounts as deduction either before the ITO or before the AAC. Subsequently, the High Court in the case of Amalgamated Electricity Co. Ltd. v. CIT (1974) 97 ITR 334 (Bom) held Allseas Marine 5 that such amounts represented allowable deduction on revenue account. The assessee, in view of the above case, raised a new claim before the Tribunal and it sought to raise additional grounds in that connection. The Tribunal, however, refused to grant leave to the assessee to raise such an additional ground. On appeal,…

Amalgamated Electricity Company Limited v. Commissioner of Income-tax (97 ITR 334) — Cited in 23 Judgments | BharatTax