Apollo Tyres Ltd. v. CIT

255 ITR 273Supreme Court of India2002#88 most cited

What is Apollo Tyres Ltd. v. CIT authority for?

For the purpose of computing book profits under Section 115J, arrears of depreciation, including those arising from assets working extra shifts, are a necessary charge on profits if debited to the profit and loss account and are allowable as such.

657

judgments rely on this decision, according to BharatTax’s citation analysis of 367,714 Indian tax judgments — from 2008 to 2026.

Also referred to as

Apollo Tyres Ltd v CIT · Section 115J · Section 115JB · book profits · minimum alternate tax · MAT · depreciation arrears · extra shift depreciation · debit to profit and loss account · allowable charge on profits

Also reported as

122 Taxmann 562174 CTR 521

Sections most often in play

Section 115JBSection 14ASection 143(3)Section 37(1)Section 147Section 8DSection 92CA(3)Section 195
Read the full judgment

Issues it is cited on

section 115jb(2)section 115jabook profitssection 115jsection 115jbsection 35disallowance u/s 14adisallowance under section 14asection 115section 80iasection 32section 14a

Judgments citing Apollo Tyres Ltd. v. CIT

DCIT, Circle - 6(1), Kolkata vs. M/S. Birla Corporation Ltd., Kolkata

In the result, appeals filed by the Revenue for AYs 2013-14 &

ITA 2142/KOL/2018[2013-14]Status: DisposedITAT Kolkata07 Feb 2023AY 2013-14

Bench: Sri Rajpal Yadav & Dr. Manish Borad

Section 115JSection 143(3)Section 14ASection 250Section 80I

…आयकर अपीलीय अधिकरण कोलकाता 'सी' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘C’ BENCH, KOLKATA श्री राजपाल यादव, उपाध्यक्ष (कोलकाता क्षेत्र) एवं डॉ. मनीष बोरड, लेखा सदस्य के समक्ष Before SRI RAJPAL YADAV, VICE PRESIDENT & DR. MANISH BORAD, ACCOUNTANT MEMBER I.T.A. Nos.: 2142 & 2143/KOL/2018 Assessment Years: 2013-14 & 2014-15 DCIT, Circle-6(1), Kolkata….....................................Appellant Vs. Birla Corporation Limited....................................Respondent [PAN: AABCB 2075 J] I.T.A. Nos.: 496 & 497/KOL/2020 Assessment Years: 2013-14 & 2014-15 Birla Corporation Limited…..........…

Addl. CIT, Special Range- 4, New Delhi vs. Ircon International Ltd., New Delhi

In the result, appeal of the Revenue is 52

ITA 6488/DEL/2019[2016-17]Status: DisposedITAT Delhi07 Feb 2023AY 2016-17

Bench: Shri Anil Chaturvedi & Shri Anubhav Sharma

For Appellant: Shri Somil AggarwalFor Respondent: Smt Abha Rani Singh
Section 115JSection 143(3)Section 14A

…ssessee. The relevant part of the order of the Tribunal is as under: “22.2 The Assessing Officer held that adjustment can be made only as provided in Explanation to section 115J as decided by the Hon’ble Supreme Court in the case of Apollo tyres Vs CIT (2002) 255 ITR 273 (SC). According to him, exclusion of DTAA is not provided in that explanation. The Ld. CIT(A) confirmed the action of the Assessing Officer. 22.3 Before us the Ld. Counsel of the assessee submitted that issue in dispute is covered in the favour of the assessee by the decision of the Tribunal in the case of the assessee for assessment year 2000-01…

Ircon International Ltd., New Delhi vs. Addl. CIT, Special Range- 4, New Delhi

In the result, appeal of the Revenue is 52

ITA 6044/DEL/2019[2016-17]Status: DisposedITAT Delhi07 Feb 2023AY 2016-17

Bench: Shri Anil Chaturvedi & Shri Anubhav Sharma

For Appellant: Shri Somil AggarwalFor Respondent: Smt Abha Rani Singh
Section 115JSection 143(3)Section 14A

…ssessee. The relevant part of the order of the Tribunal is as under: “22.2 The Assessing Officer held that adjustment can be made only as provided in Explanation to section 115J as decided by the Hon’ble Supreme Court in the case of Apollo tyres Vs CIT (2002) 255 ITR 273 (SC). According to him, exclusion of DTAA is not provided in that explanation. The Ld. CIT(A) confirmed the action of the Assessing Officer. 22.3 Before us the Ld. Counsel of the assessee submitted that issue in dispute is covered in the favour of the assessee by the decision of the Tribunal in the case of the assessee for assessment year 2000-01…

Everest Industries Ltd., Noida vs. Dy CIT Circle- 1, Thane

In the result, the In the result, the assessee and Revenue are are educated as under:

ITA 715/MUM/2020[2008-09]Status: DisposedITAT Mumbai31 Jan 2023AY 2008-09

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited, Dcit, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6Th Floor, B- 201301, Vs. Wing, 16-Z, Wagle Industrial Uttar Pradesh Estate, Thane(W)- 400 604. Pan No. Aaace 7550 N Appellant Respondent Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14

For Appellant: Mr. Yogesh Thar/
Section 115J

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “E” MUMBAI BEFORE SHRI ABY T VARKEY (JUDICIAL MEMBER) AND SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited, DCIT, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6th floor, B- 201301, Vs. Wing, 16-Z, Wagle Industrial Uttar Pradesh Estate, Thane(W)- 400 604. PAN No. AAACE 7550 N Appellant Respondent Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited ITA No…

DCIT Circle-1, Thane vs. M/S Everest Industries Ltd., Delhi

In the result, the In the result, the assessee and Revenue are are educated as under:

ITA 654/MUM/2020[2012-13]Status: DisposedITAT Mumbai31 Jan 2023AY 2012-13

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited, Dcit, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6Th Floor, B- 201301, Vs. Wing, 16-Z, Wagle Industrial Uttar Pradesh Estate, Thane(W)- 400 604. Pan No. Aaace 7550 N Appellant Respondent Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14

For Appellant: Mr. Yogesh Thar/
Section 115J

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “E” MUMBAI BEFORE SHRI ABY T VARKEY (JUDICIAL MEMBER) AND SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited, DCIT, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6th floor, B- 201301, Vs. Wing, 16-Z, Wagle Industrial Uttar Pradesh Estate, Thane(W)- 400 604. PAN No. AAACE 7550 N Appellant Respondent Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited ITA No…

DCIT Circle-1, Thane vs. M/S Everest Industries Ltd., Delhi

In the result, the In the result, the assessee and Revenue are are educated as under:

ITA 653/MUM/2020[2013-14]Status: DisposedITAT Mumbai31 Jan 2023AY 2013-14

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited, Dcit, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6Th Floor, B- 201301, Vs. Wing, 16-Z, Wagle Industrial Uttar Pradesh Estate, Thane(W)- 400 604. Pan No. Aaace 7550 N Appellant Respondent Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14

For Appellant: Mr. Yogesh Thar/
Section 115J

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “E” MUMBAI BEFORE SHRI ABY T VARKEY (JUDICIAL MEMBER) AND SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited, DCIT, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6th floor, B- 201301, Vs. Wing, 16-Z, Wagle Industrial Uttar Pradesh Estate, Thane(W)- 400 604. PAN No. AAACE 7550 N Appellant Respondent Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited ITA No…

DCIT, Circle-1, Thane vs. Everest Industries Ltd., Mumbai

In the result, the In the result, the assessee and Revenue are are educated as under:

ITA 1423/MUM/2020[2008-09]Status: DisposedITAT Mumbai31 Jan 2023AY 2008-09

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited, Dcit, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6Th Floor, B- 201301, Vs. Wing, 16-Z, Wagle Industrial Uttar Pradesh Estate, Thane(W)- 400 604. Pan No. Aaace 7550 N Appellant Respondent Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14

For Appellant: Mr. Yogesh Thar/
Section 115J

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “E” MUMBAI BEFORE SHRI ABY T VARKEY (JUDICIAL MEMBER) AND SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited, DCIT, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6th floor, B- 201301, Vs. Wing, 16-Z, Wagle Industrial Uttar Pradesh Estate, Thane(W)- 400 604. PAN No. AAACE 7550 N Appellant Respondent Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited ITA No…

Everest Industries Ltd, Noida vs. Dy CIT Cirlce-1, Thane

In the result, the In the result, the assessee and Revenue are are educated as under:

ITA 7794/MUM/2019[2013-14]Status: DisposedITAT Mumbai31 Jan 2023AY 2013-14

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited, Dcit, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6Th Floor, B- 201301, Vs. Wing, 16-Z, Wagle Industrial Uttar Pradesh Estate, Thane(W)- 400 604. Pan No. Aaace 7550 N Appellant Respondent Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14

For Appellant: Mr. Yogesh Thar/
Section 115J

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “E” MUMBAI BEFORE SHRI ABY T VARKEY (JUDICIAL MEMBER) AND SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited, DCIT, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6th floor, B- 201301, Vs. Wing, 16-Z, Wagle Industrial Uttar Pradesh Estate, Thane(W)- 400 604. PAN No. AAACE 7550 N Appellant Respondent Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited ITA No…

Everest Industries Ltd, Noida vs. Dy CIT Cirlce-1, Thane

In the result, the In the result, the assessee and Revenue are are educated as under:

ITA 7793/MUM/2019[2012-13]Status: DisposedITAT Mumbai31 Jan 2023AY 2012-13

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited, Dcit, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6Th Floor, B- 201301, Vs. Wing, 16-Z, Wagle Industrial Uttar Pradesh Estate, Thane(W)- 400 604. Pan No. Aaace 7550 N Appellant Respondent Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14

For Appellant: Mr. Yogesh Thar/
Section 115J

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “E” MUMBAI BEFORE SHRI ABY T VARKEY (JUDICIAL MEMBER) AND SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited, DCIT, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6th floor, B- 201301, Vs. Wing, 16-Z, Wagle Industrial Uttar Pradesh Estate, Thane(W)- 400 604. PAN No. AAACE 7550 N Appellant Respondent Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited ITA No…

ACIT 3(1)(2), Mumbai vs. Hikal Ltd, Mumbai

In the result, the appeal filed by the revenue is dismissed

ITA 3517/MUM/2017[2008-09]Status: DisposedITAT Mumbai25 Jan 2023AY 2008-09

Bench: Shri Prashant Maharish & Pavan Kumar Gadaleacit – 3(1)(2), Vs. M/S Hikal Ltd Room No. 607, 6Th Floor 717/718, Maker Aayakar Bhavan, Chambers V, Mumbai – 400020. Nariman Point, Mumbai – 400021. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaach0383A Appellant .. Respondent Appellant By : Smt .Madhumalti Gosh.Cit Dr Respondent By : Sri.Sanjay Parikh.Ar Date Of Hearing 16.11.2022 Date Of Pronouncement 25.01.2023 आदेश / O R D E R Per Pavan Kumar Gadale Jm: The Revenue Has Filed The Appeal Against The Order Of The Commissioner Of Income Tax (Appeals)-8, Mumbai, Passed U/S 154 & 250 Of The Act. The Revenue Has Raised The Following Grounds Of Appeal:

For Appellant: Smt .Madhumalti Gosh.CIT DRFor Respondent: Sri.Sanjay Parikh.AR
Section 10(34)Section 115JSection 143(1)Section 143(2)Section 14ASection 154

…facts that the said income had been added to the book profit by the Hikal Ltd.Mumbai. assessee itself and the deduction/adjustment to book profit allowed does not fulfill the conditions laid down in explanation 1 of section 115JB-Apollo Tyre Ltd. Vs CIT (SC), 255 ITR 273. 2. Whether on the facts and circumstances of the case and in law, the ld.CIT(A) has erred in deleting the addition of Rs. 15,23,15,159/- to the book profit u/s 115JB of the I.T. Act, 1961 on account of notional & unrealized income without appreciating the facts that assessing officer rectified the mistake apparent from record as assessee is not…

ACIT Circle-2(1)(1), Mumbai vs. M/S Bombay Dyeing & Manufacturing Co. Ltd., Mumbai

ITA 4485/MUM/2019[2015-16]Status: DisposedITAT Mumbai24 Jan 2023AY 2015-16

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () - A.Y 2014-15 - A.Y 2015-16 Asst. Commissioner Of M/S Bombay Dyeing & Income-Tax 2(1)(1), Mumbai, Manufacturing Co. Ltd Room No.561, 5Th Floor, Vs. Neville House, Jn Herdia Aayakar Bhavan, M.K. Road, Marg, Ballard Estate, Mumbai-400 020 Mumbai-400 001 Pan No. Aaact 2328 K Appellant Respondent - A.Y 2014-15 - A.Y 2015-16 M/S Bombay Dyeing & Dy. Commissioner Of Income- Manufacturing Co. Ltd Tax 2(1), Mumbai, Room Neville House, Jn Herdia No.561, 5Th Floor, Aayakar Vs Marg, Ballard Estate, Bhavan, M.K. Road, Mumbai- Mumbai-400 001 400 020 Pan No. Aaact 2328 K Appellant Respondent

For Appellant: Shri Yogesh Thar / ChaitanyaFor Respondent: Revenue by Shri Ashok Kumar Kardam
Section 115JSection 14A

…115JB of the Act and is therefore in contravention to the law laid down by HonTDle Supreme Court in the vention to the law laid down by HonTDle Supreme Court in the vention to the law laid down by HonTDle Supreme Court in the case of Apollo Tyres Ltd. vs CIT(255 ITR 273)?" case of Apollo Tyres Ltd. vs CIT(255 ITR 273)?" 4. Briefly stated, facts of the case are that the assessee during facts of the case are that the assessee during facts of the case are that the assessee during the year under consideration was engaged in the business of the year under consideration was engaged in the business of the year under co…

ACIT Circle-2(1)(1), Mumbai vs. M/S Bombay Dyeing & Manufacturing Co. Ltd., Mumbai

ITA 4484/MUM/2019[2014-15]Status: DisposedITAT Mumbai24 Jan 2023AY 2014-15

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () - A.Y 2014-15 - A.Y 2015-16 Asst. Commissioner Of M/S Bombay Dyeing & Income-Tax 2(1)(1), Mumbai, Manufacturing Co. Ltd Room No.561, 5Th Floor, Vs. Neville House, Jn Herdia Aayakar Bhavan, M.K. Road, Marg, Ballard Estate, Mumbai-400 020 Mumbai-400 001 Pan No. Aaact 2328 K Appellant Respondent - A.Y 2014-15 - A.Y 2015-16 M/S Bombay Dyeing & Dy. Commissioner Of Income- Manufacturing Co. Ltd Tax 2(1), Mumbai, Room Neville House, Jn Herdia No.561, 5Th Floor, Aayakar Vs Marg, Ballard Estate, Bhavan, M.K. Road, Mumbai- Mumbai-400 001 400 020 Pan No. Aaact 2328 K Appellant Respondent

For Appellant: Shri Yogesh Thar / ChaitanyaFor Respondent: Revenue by Shri Ashok Kumar Kardam
Section 115JSection 14A

…115JB of the Act and is therefore in contravention to the law laid down by HonTDle Supreme Court in the vention to the law laid down by HonTDle Supreme Court in the vention to the law laid down by HonTDle Supreme Court in the case of Apollo Tyres Ltd. vs CIT(255 ITR 273)?" case of Apollo Tyres Ltd. vs CIT(255 ITR 273)?" 4. Briefly stated, facts of the case are that the assessee during facts of the case are that the assessee during facts of the case are that the assessee during the year under consideration was engaged in the business of the year under consideration was engaged in the business of the year under co…

The Bombay Dyeing & Manufacturing Company Ltd., Mumbai vs. DCIT, C--2(1), Mumbai

ITA 4293/MUM/2019[2015-16]Status: DisposedITAT Mumbai24 Jan 2023AY 2015-16

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () - A.Y 2014-15 - A.Y 2015-16 Asst. Commissioner Of M/S Bombay Dyeing & Income-Tax 2(1)(1), Mumbai, Manufacturing Co. Ltd Room No.561, 5Th Floor, Vs. Neville House, Jn Herdia Aayakar Bhavan, M.K. Road, Marg, Ballard Estate, Mumbai-400 020 Mumbai-400 001 Pan No. Aaact 2328 K Appellant Respondent - A.Y 2014-15 - A.Y 2015-16 M/S Bombay Dyeing & Dy. Commissioner Of Income- Manufacturing Co. Ltd Tax 2(1), Mumbai, Room Neville House, Jn Herdia No.561, 5Th Floor, Aayakar Vs Marg, Ballard Estate, Bhavan, M.K. Road, Mumbai- Mumbai-400 001 400 020 Pan No. Aaact 2328 K Appellant Respondent

For Appellant: Shri Yogesh Thar / ChaitanyaFor Respondent: Revenue by Shri Ashok Kumar Kardam
Section 115JSection 14A

…115JB of the Act and is therefore in contravention to the law laid down by HonTDle Supreme Court in the vention to the law laid down by HonTDle Supreme Court in the vention to the law laid down by HonTDle Supreme Court in the case of Apollo Tyres Ltd. vs CIT(255 ITR 273)?" case of Apollo Tyres Ltd. vs CIT(255 ITR 273)?" 4. Briefly stated, facts of the case are that the assessee during facts of the case are that the assessee during facts of the case are that the assessee during the year under consideration was engaged in the business of the year under consideration was engaged in the business of the year under co…

The Bombay Dyeing & Manufacturing Company Ltd., Mumbai vs. DCIT, C--2(1), Mumbai

ITA 4291/MUM/2019[2014-15]Status: DisposedITAT Mumbai24 Jan 2023AY 2014-15

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () - A.Y 2014-15 - A.Y 2015-16 Asst. Commissioner Of M/S Bombay Dyeing & Income-Tax 2(1)(1), Mumbai, Manufacturing Co. Ltd Room No.561, 5Th Floor, Vs. Neville House, Jn Herdia Aayakar Bhavan, M.K. Road, Marg, Ballard Estate, Mumbai-400 020 Mumbai-400 001 Pan No. Aaact 2328 K Appellant Respondent - A.Y 2014-15 - A.Y 2015-16 M/S Bombay Dyeing & Dy. Commissioner Of Income- Manufacturing Co. Ltd Tax 2(1), Mumbai, Room Neville House, Jn Herdia No.561, 5Th Floor, Aayakar Vs Marg, Ballard Estate, Bhavan, M.K. Road, Mumbai- Mumbai-400 001 400 020 Pan No. Aaact 2328 K Appellant Respondent

For Appellant: Shri Yogesh Thar / ChaitanyaFor Respondent: Revenue by Shri Ashok Kumar Kardam
Section 115JSection 14A

…115JB of the Act and is therefore in contravention to the law laid down by HonTDle Supreme Court in the vention to the law laid down by HonTDle Supreme Court in the vention to the law laid down by HonTDle Supreme Court in the case of Apollo Tyres Ltd. vs CIT(255 ITR 273)?" case of Apollo Tyres Ltd. vs CIT(255 ITR 273)?" 4. Briefly stated, facts of the case are that the assessee during facts of the case are that the assessee during facts of the case are that the assessee during the year under consideration was engaged in the business of the year under consideration was engaged in the business of the year under co…

DCIT Circle-1, Thane vs. M/S Everest Industries Ltd., Delhi

ITA 655/MUM/2020[2011-12]Status: DisposedITAT Mumbai20 Jan 2023AY 2011-12

Bench: Shri Kuldip Singh & Shri S. Rifaur Rahmanassessment Year: 2011-12

For Appellant: Shri Yogesh Thar, A.R. &For Respondent: Shri Sanjeev Kashyap, D.R
Section 43(1)

…T (90 ITD 654). If the capital receipts are included in the computation of MAT, the object of introduction of section 115JA/115JB would be defeated. The above exclusion is also permissible in view of decision of Hon'ble Apex Court in the case of Apollo Tyres (255 ITR 273) wherein it was held that the AO has no powers to rework the book profits if the same have been computed in accordance with Part-Il and Part- III of Schedule VI of the Companies Act. In the case of ACIT Vs. Shree Cement Ltd. (2012 TIOL-02-ITAT Jaipur), it was held that Sales Tax Incentive was required to be excluded while computing the book profi…

Everest Industrial Ltd., Noida vs. Dy CIT Circle-1, Thane

ITA 7792/MUM/2019[2011-12]Status: DisposedITAT Mumbai20 Jan 2023AY 2011-12

Bench: Shri Kuldip Singh & Shri S. Rifaur Rahmanassessment Year: 2011-12

For Appellant: Shri Yogesh Thar, A.R. &For Respondent: Shri Sanjeev Kashyap, D.R
Section 43(1)

…T (90 ITD 654). If the capital receipts are included in the computation of MAT, the object of introduction of section 115JA/115JB would be defeated. The above exclusion is also permissible in view of decision of Hon'ble Apex Court in the case of Apollo Tyres (255 ITR 273) wherein it was held that the AO has no powers to rework the book profits if the same have been computed in accordance with Part-Il and Part- III of Schedule VI of the Companies Act. In the case of ACIT Vs. Shree Cement Ltd. (2012 TIOL-02-ITAT Jaipur), it was held that Sales Tax Incentive was required to be excluded while computing the book profi…

Floeter India Retort Pouches P. Ltd., Delhi vs. ITO Ward-9(2), Delhi

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

ITA 273/DEL/2022[2017-18]Status: DisposedITAT Delhi20 Jan 2023AY 2017-18
For Appellant: Shri Anurag Mittal, CAFor Respondent: Shri Vipul Kashyap, Sr. DR
Section 115JSection 37

…rused the records. 7. Ld. Counsel for the assessee contended that the disallowance u/s 37 of the Act by the AO cannot be imported u/s 115JB. In this regard, he referred to the decision of Hon’ble Supreme Court in the case of Apollo Tyres Ltd. vs. CIT (2002) 255 ITR 273 wherein it was held that the AO, while computing income under section 115J, has only the power to examine whether the books of account were certified by the authorities under the Companies Act, as having been properly maintained in accordance with the Companies Act. The AO thereafter has only limited power of making increases and decreases as…

Wadhawan Holdings Pvt. Ltd., Mumbai vs. DCIT- CC -5(4), Mumbai

In the result, the present appeal is dismissed

ITA 3700/MUM/2018[2014-15]Status: DisposedITAT Mumbai17 Jan 2023AY 2014-15
For Appellant: NoneFor Respondent: Shri Ashok Kumar Kardam
Section 115JSection 143(3)

…t stood at INR 1519.86 Crores. While computing Book Profits under Section 115JB of the Act the Appellant had, in contravention of the provision of Section 115JB of the Act and the judgment of the Hon‟ble Supreme Court in the case of Apollo Tyres Ltd. Vs. CIT: 255 ITR 73 (SC), reduced the Net Profits as shown in the Profit & Loss statement by INR 11 Crores being Debenture Redemption Reserve created by the Appellant. The Ld. Departmental Representative referred to the order passed by CIT(A) and submitted that Appellant has failed to controvert findings of the CIT(A) who had taken a decision after considering the va…

M/S Harman Connected Services Corporation India Private Limited, Bangalore vs. Deputy Commissioner of Income Tax Circle-3(1)(2), Bangalore

In the result, the appeal filed by the revenue is dismissed

ITA 1982/BANG/2018[2012-13]Status: DisposedITAT Bangalore12 Jan 2023AY 2012-13

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariita Nos.1980 To 1982/Bang/2018 Assessment Years: 2009-10, 2010-11 & 2012-13

For Appellant: Shri T. Suryanarayana, Sr. A.RFor Respondent: Shri Sreenivas T. Bidari, D.R
Section 143(3)

…ITA Nos.1980 to 1982/Bang/2018 M/s. Harman Connected Services Corporation India Pvt. Ltd., Bangalore IN THE INCOME TAX APPELLATE TRIBUNAL “C’’ BENCH: BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER ITA Nos.1980 to 1982/Bang/2018 Assessment Years: 2009-10, 2010-11 & 2012-13 M/s. Harman Connected Services Corporation India Pvt. Ltd. (formerly known as Symphony Teleca Addl. CIT Corporation India Private Ltd.) Range-12 No.3 & 3A, EOIZ Industrial Area (currently with ACIT Survey No.85 & 86, Sadarmangala Vs. Circle-3(1)(2)) Village Bangalore Krishnarajapuram Hobli B…

M/S Harman Connected Services Corporation India Private Limited, Bangalore vs. Deputy Commissioner of Income Tax Circle-3(1)(2), Bangalore

In the result, the appeal filed by the revenue is dismissed

ITA 1981/BANG/2018[2010-11]Status: DisposedITAT Bangalore12 Jan 2023AY 2010-11

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariita Nos.1980 To 1982/Bang/2018 Assessment Years: 2009-10, 2010-11 & 2012-13

For Appellant: Shri T. Suryanarayana, Sr. A.RFor Respondent: Shri Sreenivas T. Bidari, D.R
Section 143(3)

…ITA Nos.1980 to 1982/Bang/2018 M/s. Harman Connected Services Corporation India Pvt. Ltd., Bangalore IN THE INCOME TAX APPELLATE TRIBUNAL “C’’ BENCH: BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER ITA Nos.1980 to 1982/Bang/2018 Assessment Years: 2009-10, 2010-11 & 2012-13 M/s. Harman Connected Services Corporation India Pvt. Ltd. (formerly known as Symphony Teleca Addl. CIT Corporation India Private Ltd.) Range-12 No.3 & 3A, EOIZ Industrial Area (currently with ACIT Survey No.85 & 86, Sadarmangala Vs. Circle-3(1)(2)) Village Bangalore Krishnarajapuram Hobli B…