Ambika Cotton Mills Ltd. v. Deputy Commissioner of Income

27 ITR (Trib) 44Income Tax Appellate Tribunal#9616 most cited

What is Ambika Cotton Mills Ltd. v. Deputy Commissioner of Income authority for?

Amounts received on sale of CER are capital receipts not chargeable to tax. This is because they represent a capital receipt and not a trading receipt.

11

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2017 to 2026.

Also referred to as

Ambika Cotton Mills Ltd. v. Deputy Commissioner of Income · CER sale · capital receipt · not chargeable to tax · trading receipt · business income

Sections most often in play

Section 143(3)Section 28(iv)Section 36(1)(iii)Section 80IASection 143(1)Section 14ASection 158BBGSection 254

Issues it is cited on

section 40(1)section 41(1)(a)section 41(2)remission or cessation of liabilitytrade creditorssection 41(1)liable to taxdisallowance u/s 14asection 115jbsection 14ascrutiny assessmentsection 143(2)

Judgments citing Ambika Cotton Mills Ltd. v. Deputy Commissioner of Income

Friends Salt Works and Allied Industries, Gandhidham vs. ACIT, Circle-1, Gandhidham

In the result, the appeal of the assessee is partly allowed, in above terms

ITA 169/RJT/2024[2017-18]Status: DisposedITAT Rajkot02 Jan 2026AY 2017-18

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

For Appellant: Shri K. C. Thacker, Ld. A.RFor Respondent: Shri Sanjay Puglia, Ld. (CIT) DR
Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER AND DR. DINESH MOHAN SINHA, JUDICIAL MEMBER आयकरअपीलसं./ITA No. 99/Rjt/2023 & 169/Rjt/2024 Assessment Year: (2015-16 & 2017-18) Friends Salt Works And Allied Vs. ACIT, Circle-1, Gandhidham Industries Plot No. 20a, Sector-8, Behind KPT Maitri Bhavan, Plot No. 18, Sector- AO Building, Gandhidham-Kutch 8, Gujarat- 370201 Gujarat - 370201 "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAAFF2067N (Appellant) (Respondent) Appellant by : Shri K. C. Thacker, Ld. A.R. Respondent by : Shri Sanjay Puglia, Ld. (CIT) DR Date of Hea…

Friends Salt Works & Allied Inds., Gandhidham vs. The Addl. Commissioner of Income Tax, Range Gandhidham, Gandhidham

In the result, the appeal of the assessee is partly allowed, in above terms

ITA 99/RJT/2023[2015-16]Status: DisposedITAT Rajkot02 Jan 2026AY 2015-16

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

For Appellant: Shri K. C. Thacker, Ld. A.RFor Respondent: Shri Sanjay Puglia, Ld. (CIT) DR
Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER AND DR. DINESH MOHAN SINHA, JUDICIAL MEMBER आयकरअपीलसं./ITA No. 99/Rjt/2023 & 169/Rjt/2024 Assessment Year: (2015-16 & 2017-18) Friends Salt Works And Allied Vs. ACIT, Circle-1, Gandhidham Industries Plot No. 20a, Sector-8, Behind KPT Maitri Bhavan, Plot No. 18, Sector- AO Building, Gandhidham-Kutch 8, Gujarat- 370201 Gujarat - 370201 "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAAFF2067N (Appellant) (Respondent) Appellant by : Shri K. C. Thacker, Ld. A.R. Respondent by : Shri Sanjay Puglia, Ld. (CIT) DR Date of Hea…

DCIT-2(3)(1), Mumbai vs. Navin Fluorine International Ltd, Mumbai

In the result, appeals of the Revenue in ITA No

ITA 4105/MUM/2023[2008-09]Status: DisposedITAT Mumbai08 May 2024AY 2008-09

Bench: Shri Pavan Kumar Gadale, Jm & Ms Padmavathy S, Am

For Respondent: Ms. Aarti Vissanji & Amod
Section 143(3)Section 14ASection 158B

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI PAVAN KUMAR GADALE, JM & MS PADMAVATHY S, AM I.T.A. No. 4104/Mum/2013 (Assessment Year: 2009-10) I.T.A. No. 4105/Mum/2023 (Assessment Year: 2008-09) Dy. CIT-(2(3)(1) Navin Fluorine International Ltd. 502, Aayakar Bhavan, Office No. 602, Natraj by Rustomjee, M.K. Road, Vs. Sir Mathuradas Vasanji Road, Mumbai - 400020. Andheri East, Mumbai-400069 PAN : AABCP0464B Appellant) : Respondent) Revenue/Respondent by : Ms. Aarti Vissanji & Amod Prabhudesai, CA : Shri S. Srinivasu, CIT-DR Appellant/Assessee by Date of Hearing : 06.05.2024 Date of Pronouncem…

DCIT-2(3)(1), Mumbai vs. Navin Fluorine International Ltd, Mumbai

In the result, appeals of the Revenue in ITA No

ITA 4104/MUM/2023[2009-10]Status: DisposedITAT Mumbai08 May 2024AY 2009-10

Bench: Shri Pavan Kumar Gadale, Jm & Ms Padmavathy S, Am

Section 143(3)Section 14ASection 158B

…ITAT) (2014) 41 CCH 454. (l) Arun Textiles P. Ltd. V/s. ACIT (Chennai ITAT) (2014) 58 taxmann.com 223. (m) Adisankara Spinning Mills P. Ltd. V/s. DCIT (Chennai ITAT) (2014) 41 CCH 327/67 SOT 175. (n) Ambika Cotton Mills Ltd. V/s. DCIT (Chennai ITAT "C" Bench) 27 ITR (Trib) 44/61 SOT 0031. (o) Sri Velayudhaswamy Spinning Mills (P) Ltd. V/s. DCIT (Chennai ITAT) (2013) 40 Taxmann.com 141. (p) Shree Cement Ltd. V/s. Addl. CIT (Jaipur ITAT) (2014) 152 ITD 561. 4.5.1.2 Further, in assessee company's own case for the immediately preceding assessment year i.e. 2010-11, the then Ld. CIT(A) has held that the amount receive…

DCIT Cir 10(3)(1), Mumbai vs. Navin Fluorine International Ltd, Mumbai

In the result, the appeals of the assessee is partly allowed while for the appeals of the revenue is dismissed

ITA 7038/MUM/2018[2011-12]Status: DisposedITAT Mumbai24 May 2022AY 2011-12

Bench: Shri Amit Shukla & Shri Amarjit Singh

For Appellant: Ashok MehtaFor Respondent: S.N. Kabra
Section 115JSection 14Section 143(3)Section 14ASection 41(1)

…4 Appeals Navin Fluorine Intl Ltd. Vs. The DCIT-7(1) 1 A.Ys. 2010-11 & 2011-12 IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER ITA No.6491/Mum/2018 (A.Ys. 2010-11 & 2011-12) Navin Fluorine Vs. The DCIT-7(1) International Limited, Room No. 622, 6 th Floor, 2nd Floor, Sunteck Centre Aayakar Bhavan, M.K. 37/40, Subash Road, Road, Mumbai- 400 020 Vile Parle (East) Mumbai – 400 057 स्थायी लेखा सं./ जीआइआर सं./ PAN/GIR No: AABCP0464B Appellant .. Respondent ITA No.7038/Mum/2018 (A.Ys. 2010-11 & 2011-12) The DCIT-7(1) Vs. M/s Na…

Navin Fluorine International Ltd, Mumbai vs. DCIT Cir 7(1), Mumbai

In the result, the appeals of the assessee is partly allowed while for the appeals of the revenue is dismissed

ITA 6491/MUM/2018[2011-12]Status: DisposedITAT Mumbai24 May 2022AY 2011-12

Bench: Shri Amit Shukla & Shri Amarjit Singh

For Appellant: Ashok MehtaFor Respondent: S.N. Kabra
Section 115JSection 14Section 143(3)Section 14ASection 41(1)

…4 Appeals Navin Fluorine Intl Ltd. Vs. The DCIT-7(1) 1 A.Ys. 2010-11 & 2011-12 IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER ITA No.6491/Mum/2018 (A.Ys. 2010-11 & 2011-12) Navin Fluorine Vs. The DCIT-7(1) International Limited, Room No. 622, 6 th Floor, 2nd Floor, Sunteck Centre Aayakar Bhavan, M.K. 37/40, Subash Road, Road, Mumbai- 400 020 Vile Parle (East) Mumbai – 400 057 स्थायी लेखा सं./ जीआइआर सं./ PAN/GIR No: AABCP0464B Appellant .. Respondent ITA No.7038/Mum/2018 (A.Ys. 2010-11 & 2011-12) The DCIT-7(1) Vs. M/s Na…

DCIT Cir 7(1), Mumbai vs. Navine Fluorine International Ltd, Mumbai

In the result, the appeals of the assessee is partly allowed while for the appeals of the revenue is dismissed

ITA 5555/MUM/2014[2010-11]Status: DisposedITAT Mumbai24 May 2022AY 2010-11

Bench: Shri Amit Shukla & Shri Amarjit Singh

For Appellant: Ashok MehtaFor Respondent: S.N. Kabra
Section 115JSection 14Section 143(3)Section 14ASection 41(1)

…4 Appeals Navin Fluorine Intl Ltd. Vs. The DCIT-7(1) 1 A.Ys. 2010-11 & 2011-12 IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER ITA No.6491/Mum/2018 (A.Ys. 2010-11 & 2011-12) Navin Fluorine Vs. The DCIT-7(1) International Limited, Room No. 622, 6 th Floor, 2nd Floor, Sunteck Centre Aayakar Bhavan, M.K. 37/40, Subash Road, Road, Mumbai- 400 020 Vile Parle (East) Mumbai – 400 057 स्थायी लेखा सं./ जीआइआर सं./ PAN/GIR No: AABCP0464B Appellant .. Respondent ITA No.7038/Mum/2018 (A.Ys. 2010-11 & 2011-12) The DCIT-7(1) Vs. M/s Na…

Navin Fluorine International Ltd, Mumbai vs. DCIT Cir 7(1), Mumbai

In the result, the appeals of the assessee is partly allowed while for the appeals of the revenue is dismissed

ITA 5301/MUM/2014[2010-11]Status: DisposedITAT Mumbai24 May 2022AY 2010-11

Bench: Shri Amit Shukla & Shri Amarjit Singh

For Appellant: Ashok MehtaFor Respondent: S.N. Kabra
Section 115JSection 14Section 143(3)Section 14ASection 41(1)

…4 Appeals Navin Fluorine Intl Ltd. Vs. The DCIT-7(1) 1 A.Ys. 2010-11 & 2011-12 IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER ITA No.6491/Mum/2018 (A.Ys. 2010-11 & 2011-12) Navin Fluorine Vs. The DCIT-7(1) International Limited, Room No. 622, 6 th Floor, 2nd Floor, Sunteck Centre Aayakar Bhavan, M.K. 37/40, Subash Road, Road, Mumbai- 400 020 Vile Parle (East) Mumbai – 400 057 स्थायी लेखा सं./ जीआइआर सं./ PAN/GIR No: AABCP0464B Appellant .. Respondent ITA No.7038/Mum/2018 (A.Ys. 2010-11 & 2011-12) The DCIT-7(1) Vs. M/s Na…

Deputy Commissioner of Income-Tax, Bangalore vs. M/S.Bhoruka Power Corporation Ltd., Bangalore

In the result, the appeal by the revenue is treated as partly allowed for statistical purposes

ITA 1734/BANG/2016[2010-11]Status: DisposedITAT Bangalore07 Aug 2020AY 2010-11

Bench: Shri N.V. Vasudevan & Shri B R Baskaranassessment Year: 2010-11

For Appellant: Shri Pradeep Kumar, CIT(DR)(ITAT), BengaluruFor Respondent: Smt. Sheetal Borkar, Advocate
Section 14ASection 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI B R BASKARAN, ACCOUNTANT MEMBER Assessment year: 2010-11 The Deputy Commissioner Vs. M/s. Bhoruka Power Corporation Ltd., of Income Tax, No.48, Lavelle Road, Circle 1(1)(2), Bangalore – 560 001. PAN: AACCB 1422A Bangalore. APPELLANT RESPONDENT Appellant by : Shri Pradeep Kumar, CIT(DR)(ITAT), Bengaluru. Respondent by : Smt. Sheetal Borkar, Advocate Date of hearing : 05.08.2020 Date of Pronouncement : 07.08.2020 O R D E R Per N.V. Vasudevan, Vice President This appeal by the revenue is against the ord…

Howrah Mills Limited, Howrah vs. DCIT, CC-Xxii, Kolkata

In the result the appeal of the revenue is dismissed

ITA 1994/KOL/2014[2010-2011]Status: DisposedITAT Kolkata18 Aug 2017AY 2010-2011

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri M.Balaganesh, Am ] Assessment Year : 2010-11

For Appellant: Shr Rakesh Jain, CAFor Respondent: Shri Sallong Yaden , Addl. CIT
Section 143(3)Section 40

…ITA No.1894/Kol/2014 & 1994/Kol/2014-M/s. Howrah Mills Co.Ltd. A.Y.2010-11 1 IN THE INCOME TAX APPELLATE TRIBUNAL, BENCH ‘A’ KOLKATA [Before Hon’ble Shri N.V.Vasudevan, JM & Shri M.Balaganesh, AM ] Assessment Year : 2010-11 Howrah Mills Company Ltd. -versus- D.C.I.T., Central Circle-XXII, Kolkata Kolkata. (PAN: AAACH 7560 D) (Appellant) (Respondent) Assessment Year : 2010-11 D.C.I.T., Central Circle-XXII, -versus- Howrah Mills Company Ltd. Kolkata Kolkata (PAN: AAACH 7560 D) (Appellant) (Respondent) For the Department: Shri Sallong Yaden , Addl. CIT For the Assessee : Shr Rakesh Jain, CA Date of Hearing : 0…

D.C.I.T., Circle-1, Kolkata vs. M/S. Howrah Mills Company Limited, Howrah

In the result the appeal of the revenue is dismissed

ITA 1894/KOL/2014[2010-2011]Status: DisposedITAT Kolkata18 Aug 2017AY 2010-2011

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri M.Balaganesh, Am ] Assessment Year : 2010-11

For Appellant: Shr Rakesh Jain, CAFor Respondent: Shri Sallong Yaden , Addl. CIT
Section 143(3)Section 40

…ITA No.1894/Kol/2014 & 1994/Kol/2014-M/s. Howrah Mills Co.Ltd. A.Y.2010-11 1 IN THE INCOME TAX APPELLATE TRIBUNAL, BENCH ‘A’ KOLKATA [Before Hon’ble Shri N.V.Vasudevan, JM & Shri M.Balaganesh, AM ] Assessment Year : 2010-11 Howrah Mills Company Ltd. -versus- D.C.I.T., Central Circle-XXII, Kolkata Kolkata. (PAN: AAACH 7560 D) (Appellant) (Respondent) Assessment Year : 2010-11 D.C.I.T., Central Circle-XXII, -versus- Howrah Mills Company Ltd. Kolkata Kolkata (PAN: AAACH 7560 D) (Appellant) (Respondent) For the Department: Shri Sallong Yaden , Addl. CIT For the Assessee : Shr Rakesh Jain, CA Date of Hearing : 0…

Ambika Cotton Mills Ltd. v. Deputy Commissioner of Income (27 ITR (Trib) 44) — Cited in 11 Judgments | BharatTax