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 367,735 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

Ifci Ltd., New Delhi vs. DCIT, New Delhi

ITA 5381/DEL/2012[2009-10]Status: DisposedITAT Delhi31 Aug 2020AY 2009-10

Bench: Ms Suchitra Kamble & Shri Prashant Maharishi

Section 14Section 143Section 43B

…accounts as per the companies act and such provisions are required to be made in accordance with schedule VI of the companies act. Assessee relied upon the decision of the honourable Supreme Court in case of Apollo tyres Ltd versus Commissioner of income tax 255 ITR 273 stating that the AO has Page 13 of 43 only the power of examining whether the books of accounts certified by the authorities Under the Companies act and having been properly maintained in accordance with the companies act. Therefore, assessee submitted that AO does not have any authority to adjust the book profit on this account. The learned ass…

DCIT, New Delhi vs. M/S. Ifci Ltd., New Delhi

ITA 2062/DEL/2012[2008-09]Status: DisposedITAT Delhi31 Aug 2020AY 2008-09

Bench: Ms Suchitra Kamble & Shri Prashant Maharishi

Section 14Section 143Section 43B

…accounts as per the companies act and such provisions are required to be made in accordance with schedule VI of the companies act. Assessee relied upon the decision of the honourable Supreme Court in case of Apollo tyres Ltd versus Commissioner of income tax 255 ITR 273 stating that the AO has Page 13 of 43 only the power of examining whether the books of accounts certified by the authorities Under the Companies act and having been properly maintained in accordance with the companies act. Therefore, assessee submitted that AO does not have any authority to adjust the book profit on this account. The learned ass…

Ifci Ltd., New Delhi vs. DCIT, New Delhi

ITA 1984/DEL/2012[2008-09]Status: DisposedITAT Delhi31 Aug 2020AY 2008-09

Bench: Ms Suchitra Kamble & Shri Prashant Maharishi

Section 14Section 143Section 43B

…accounts as per the companies act and such provisions are required to be made in accordance with schedule VI of the companies act. Assessee relied upon the decision of the honourable Supreme Court in case of Apollo tyres Ltd versus Commissioner of income tax 255 ITR 273 stating that the AO has Page 13 of 43 only the power of examining whether the books of accounts certified by the authorities Under the Companies act and having been properly maintained in accordance with the companies act. Therefore, assessee submitted that AO does not have any authority to adjust the book profit on this account. The learned ass…

Ifci Ltd., New Delhi vs. DCIT, New Delhi

ITA 3443/DEL/2011[2005-06]Status: DisposedITAT Delhi31 Aug 2020AY 2005-06

Bench: Ms Suchitra Kamble & Shri Prashant Maharishi

Section 14Section 143Section 43B

…accounts as per the companies act and such provisions are required to be made in accordance with schedule VI of the companies act. Assessee relied upon the decision of the honourable Supreme Court in case of Apollo tyres Ltd versus Commissioner of income tax 255 ITR 273 stating that the AO has Page 13 of 43 only the power of examining whether the books of accounts certified by the authorities Under the Companies act and having been properly maintained in accordance with the companies act. Therefore, assessee submitted that AO does not have any authority to adjust the book profit on this account. The learned ass…

DCIT, New Delhi vs. M/S Ifci Ltd., New Delhi

ITA 3207/DEL/2011[2005-06]Status: DisposedITAT Delhi31 Aug 2020AY 2005-06

Bench: Ms Suchitra Kamble & Shri Prashant Maharishi

Section 14Section 143Section 43B

…accounts as per the companies act and such provisions are required to be made in accordance with schedule VI of the companies act. Assessee relied upon the decision of the honourable Supreme Court in case of Apollo tyres Ltd versus Commissioner of income tax 255 ITR 273 stating that the AO has Page 13 of 43 only the power of examining whether the books of accounts certified by the authorities Under the Companies act and having been properly maintained in accordance with the companies act. Therefore, assessee submitted that AO does not have any authority to adjust the book profit on this account. The learned ass…

DCIT, New Delhi vs. M/S Ifci Ltd., New Delhi

ITA 2199/DEL/2011[2006-07]Status: DisposedITAT Delhi31 Aug 2020AY 2006-07

Bench: Ms Suchitra Kamble & Shri Prashant Maharishi

Section 14Section 143Section 43B

…accounts as per the companies act and such provisions are required to be made in accordance with schedule VI of the companies act. Assessee relied upon the decision of the honourable Supreme Court in case of Apollo tyres Ltd versus Commissioner of income tax 255 ITR 273 stating that the AO has Page 13 of 43 only the power of examining whether the books of accounts certified by the authorities Under the Companies act and having been properly maintained in accordance with the companies act. Therefore, assessee submitted that AO does not have any authority to adjust the book profit on this account. The learned ass…

DCIT, New Delhi vs. M/S Ifci Ltd., New Delhi

ITA 1631/DEL/2011[2007-08]Status: DisposedITAT Delhi31 Aug 2020AY 2007-08

Bench: Ms Suchitra Kamble & Shri Prashant Maharishi

Section 14Section 143Section 43B

…accounts as per the companies act and such provisions are required to be made in accordance with schedule VI of the companies act. Assessee relied upon the decision of the honourable Supreme Court in case of Apollo tyres Ltd versus Commissioner of income tax 255 ITR 273 stating that the AO has Page 13 of 43 only the power of examining whether the books of accounts certified by the authorities Under the Companies act and having been properly maintained in accordance with the companies act. Therefore, assessee submitted that AO does not have any authority to adjust the book profit on this account. The learned ass…

Eskays Constructions Private Limited, Mumbai vs. Assistant Commissioner of Income Tax - Central Circle 8(4), Mumbai

In the result, appeal filed by the assessee for assessment year 2009-2010

ITA 2424/MUM/2018[2009-10]Status: DisposedITAT Mumbai28 Aug 2020AY 2009-10

Bench: Shri M. Balaganesh (Am) & Shri Ram Lal Negi (Jm) Assessment Year: 2009-10 M/S Eskays Constructions The Assistant Commissioner Of Private Limited, Income Tax, 16Th Floor, B-Wing Central Circle 8(4), Mittal Tower-210, Vs. Room No. 658, Aayakar Bhawan, Mumbai - 400021 M.K. Road, Pan: Aaace1223E Mumbai – 400020 (Appellant) (Respondent) Assessee By : Shri S.C. Tiwari/Ms. Hetal Laghave (Ars) Revenue By : Shri Amit Pratap Singh/Mohd. Rizwan (Drs) Date Of Hearing: 25/08/2020 Date Of Pronouncement: 28/08/2020

For Appellant: Shri S.C. Tiwari/Ms. Hetal LaghaveFor Respondent: Shri Amit Pratap Singh/Mohd
Section 143Section 143(3)Section 147Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “E”, MUMBAI BEFORE SHRI M. BALAGANESH (AM) AND SHRI RAM LAL NEGI (JM) Assessment Year: 2009-10 M/s Eskays Constructions The Assistant Commissioner of Private Limited, Income Tax, 16th Floor, B-Wing Central Circle 8(4), Mittal Tower-210, Vs. Room No. 658, Aayakar Bhawan, Mumbai - 400021 M.K. Road, PAN: AAACE1223E Mumbai – 400020 (Appellant) (Respondent) Assessee by : Shri S.C. Tiwari/Ms. Hetal Laghave (ARs) Revenue by : Shri Amit Pratap Singh/Mohd. Rizwan (DRs) Date of Hearing: 25/08/2020 Date of Pronouncement: 28/08/2020 O R D E R PER RAM LAL NEGI, JM The as…

M/S Best Trading & Agencies Ltd vs. The Deputy Commissioner of Income Tax

In the result, the orders passed by the

ITA/32/2012HC Karnataka26 Aug 2020

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

Section 115JSection 260Section 260A

…1 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 26TH DAY OF AUGUST 2020 PRESENT THE HON’BLE MR. JUSTICE ALOK ARADHE AND THE HON’BLE MR. JUSTICE H.T.NARENDRA PRASAD I.T.A. NO.191 OF 2011 C/W I.T.A. NO.32 OF 2012 I.T.A. NO.191 OF 2011 BETWEEN: M/S. BEST TRADING AND AGENCIES LTD., REP. BY ITS DIRECTOR B.R. GOPALA KRISHNA C/O. KIRLOSKAR ELECTRIC CO. LTD., P.B. NO.5555, MALLESWARAM (WEST) BANGALORE-560055. ... APPELLANT (BY SRI. A. SHANKAR, SR. COUNSEL A/W SRI. M. LAVA, ADV.,) AND: THE DEPUTY COMMISSIONER OF INCOME-TAX CIRCLE-11(2), 5TH FLOOR NO.14/3…

M/S Best Trading & Agencies Ltd vs. The Deputy Commissioner of Income Tax

In the result, the orders passed by the

ITA/191/2011HC Karnataka26 Aug 2020

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

Section 115JSection 260Section 260A

…1 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 26TH DAY OF AUGUST 2020 PRESENT THE HON’BLE MR. JUSTICE ALOK ARADHE AND THE HON’BLE MR. JUSTICE H.T.NARENDRA PRASAD I.T.A. NO.191 OF 2011 C/W I.T.A. NO.32 OF 2012 I.T.A. NO.191 OF 2011 BETWEEN: M/S. BEST TRADING AND AGENCIES LTD., REP. BY ITS DIRECTOR B.R. GOPALA KRISHNA C/O. KIRLOSKAR ELECTRIC CO. LTD., P.B. NO.5555, MALLESWARAM (WEST) BANGALORE-560055. ... APPELLANT (BY SRI. A. SHANKAR, SR. COUNSEL A/W SRI. M. LAVA, ADV.,) AND: THE DEPUTY COMMISSIONER OF INCOME-TAX CIRCLE-11(2), 5TH FLOOR NO.14/3…

ACIT 6(2)(1), Mumbai vs. Cpec Ltd, Mumbai

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

ITA 5292/MUM/2017[2012-13]Status: DisposedITAT Mumbai08 Jul 2020AY 2012-13

Bench: Shri Mahavir Singh, Vp & Shri M.Balaganesh, Am Acit 6(2)(1) Vs. M/S. Cpec Limited 5Th Room No.504/563-C, 11,211/219, P.D.Mello Road Floor, Aayakar Bhavan Fort, Mumbai – 400 001 M.K.Road, Churchgate Maharashtra Mumbai – 400020 Maharashtra Pan/Gir No.Aaacc2089A (Appellant) .. (Respondent)

Section 143(3)

…on to Section 115JB(2) of the Act. It is not the case of the revenue that this claim of bad debt of Rs.2.27 Crores is ingenuine or is not emanating from the business of the assessee company. The Hon’ble Apex Court in the case of Apollo Tyres Ltd., reported in 255 ITR 273 had categorically held that the ld. AO is not empowered to disturb the net profit as per profit and loss account which has been prepared in accordance with part II and part III of schedule-VI of the Companies Act, 1956, except in respect of specified items that could be disallowed and reduced as per Explanation to Section 115 JB(2) of the Act. In…

M/S Tanglin Developement Ltd, Bangalore vs. The Deputy Commissioner of Income Tax Central Circle-1(3), Bangalore

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

ITA 1527/BANG/2018[2013-14]Status: DisposedITAT Bangalore29 Jun 2020AY 2013-14

Bench: Shri N.V.Vasudevan & Shri B.R.Baskaranita No.1527(Bang)/2018 (Assessment Year : 2013-14) M/S Tanglin Developments Ltd., No.23/2, Coffee Day Square, Vittal Mallya Road, Bangalore-560 001 Panno.Aabct0356N Appellant Vs The Deputy Commissioner Of Income Tax, Circle-1(3), Cr Buildings, Queen’S Road, Bangalore Respondent Appellant By :Shri C. Ramesh, Ca Revenue By : Shri Muzaffar Hussain, Cit

For Appellant: Shri C. Ramesh, CAFor Respondent: Shri Muzaffar Hussain, CIT
Section 115JSection 143(3)Section 14ASection 263

…B of the IT Actis computed on the basis of accounts maintained in accordance with the provisions of Companies Act. In this regard, the assessee placed reliance on the decision rendered by the Hon’ble Supreme Court in the case of Apollo Tyres Ltd. Vs CIT(2002) 255 ITR 273(SC). The assessee has also submitted Delhi Special Bench of ITAT in the case of ACIT Vs Vireet Investments (P) Ltd (2017) 82 Taxmann.com 445 (Del. Trib.) (SP) has held that for the purpose of adjustments contemplated in clause(f) of Explanation-1 to sec.115JB(2) of the IT Act, the computation contemplated u/s 14A of the IT Act r. w. Rule 8D of th…

M/S Yokogawa India Ltd vs. The Deputy Commissioner

In the result, the appeal is disposed of

ITA/87/2012HC Karnataka04 Jun 2020

Bench: ALOK ARADHE,HEMANT CHANDANGOUDAR

Section 115JSection 143(1)Section 143(2)Section 260Section 260A

…WARA TOURIST HOME (P) LTD.’, (1996) 219 ITR 618 (SC), ‘SRI.VENKATESHWARA TOURIST HOME (P) LTD. V. ADIT (INVESTIGATION)’, (1998) 233 ITR 0736 (KARN.), ‘CIT VS. HARPRASAD AND CO PVT. LTD.,’, (1975) 99 ITR 118 (SC), ‘APOLLO TYRES LTD. VS. CIT’, (2002) 255 ITR 273 (SC), ‘VARGHESE (K.P) VS. ITO’, (1981) 131 ITR 597 (SC), ‘CIT VS. VEGETABLE PRODUCTS LTD.,’, (1973) 88 ITR 192 (SC). 6. On the other hand, learned counsel for the revenue has supported the order passed by the tribunal and has invited our attention to the decision of the supreme court in ‘APOLLO TYRES LTD. VS. COMMISSIONER…

Windsor Machines Ltd., Mumbai vs. DCIT - Circle 3, Thane

ITA 4696/MUM/2019[2013-14]Status: DisposedITAT Mumbai28 May 2020AY 2013-14

Bench: Shri Manoj Kumar Aggarwal, Am & Ms. Madhumita Roy, Jm आयकरअपीलसं./ I.T.A. No. 2709/Mum/2019 ("नधा"रणवष"/ Assessment Year: 2013-14) & आयकरअपीलसं./ I.T.A. No. 4696/Mum/2019 ("नधा"रणवष"/ Assessment Year: 2013-14) & आयकरअपीलसं./ I.T.A. No. 2710/Mum/2019 ("नधा"रणवष"/ Assessment Year: 2014-15) & आयकरअपीलसं./ I.T.A. No.4697/Mum/2019 ("नधा"रणवष"/ Assessment Year: 2014-15) M/S. Windsor Machines Ltd. Dcit-Circle-3 Room No.2, “B” Wing, 6Th Floor बनाम/ 102/103, Devmilan Chs Next To Tip Top Plaza Vs. Ashar I.T. Park, Road No.16Z Lbs Road, Thane-(W)-400 604. Wagle Estate, Thane (W)-400 604. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaacd-4302-P (अपीलाथ"/Appellant) (""यथ"/ Respondent) : Assessee By : S/Shri Pradip N. Kapasi & Shri Akhilesh Pevekar – Ld. Ars Revenue By : Shri Vinay Sinha – Ld. Cit-Dr सुनवाईक"तारीख/ : 07/01/2020 Date Of Hearing घोषणाक"तारीख/ : 28/05/2020 Date Of Pronouncement

For Appellant: S/Shri Pradip N. Kapasi &For Respondent: Shri Vinay Sinha – Ld. CIT-DR
Section 115Section 115JSection 154

…1 आयकरअपीलीयअ"धकरण“जी” "यायपीठमुंबईम"। IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI "ीमनोजकुमारअ"वाल, लेखासद"यएवं "ीमतीमधु"मताराय,"या"यकसद"यकेसम"। BEFORE SHRI MANOJ KUMAR AGGARWAL, AM AND MS. MADHUMITA ROY, JM आयकरअपीलसं./ I.T.A. No. 2709/Mum/2019 ("नधा"रणवष"/ Assessment Year: 2013-14) & आयकरअपीलसं./ I.T.A. No. 4696/Mum/2019 ("नधा"रणवष"/ Assessment Year: 2013-14) & आयकरअपीलसं./ I.T.A. No. 2710/Mum/2019 ("नधा"रणवष"/ Assessment Year: 2014-15) & आयकरअपीलसं./ I.T.A. No.4697/Mum/2019 ("नधा"रणवष"/ Assessment Year: 2014-15) M/s. Windsor Machines Ltd. DCIT-Circle-3 Room No.2, “B” Wing, 6th Floor बनाम/ 102/103,…

Windsor Machines Ltd., Mumbai vs. DCIT - Circle 3, Thane

ITA 2710/MUM/2019[2014-15]Status: DisposedITAT Mumbai28 May 2020AY 2014-15

Bench: Shri Manoj Kumar Aggarwal, Am & Ms. Madhumita Roy, Jm आयकरअपीलसं./ I.T.A. No. 2709/Mum/2019 ("नधा"रणवष"/ Assessment Year: 2013-14) & आयकरअपीलसं./ I.T.A. No. 4696/Mum/2019 ("नधा"रणवष"/ Assessment Year: 2013-14) & आयकरअपीलसं./ I.T.A. No. 2710/Mum/2019 ("नधा"रणवष"/ Assessment Year: 2014-15) & आयकरअपीलसं./ I.T.A. No.4697/Mum/2019 ("नधा"रणवष"/ Assessment Year: 2014-15) M/S. Windsor Machines Ltd. Dcit-Circle-3 Room No.2, “B” Wing, 6Th Floor बनाम/ 102/103, Devmilan Chs Next To Tip Top Plaza Vs. Ashar I.T. Park, Road No.16Z Lbs Road, Thane-(W)-400 604. Wagle Estate, Thane (W)-400 604. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaacd-4302-P (अपीलाथ"/Appellant) (""यथ"/ Respondent) : Assessee By : S/Shri Pradip N. Kapasi & Shri Akhilesh Pevekar – Ld. Ars Revenue By : Shri Vinay Sinha – Ld. Cit-Dr सुनवाईक"तारीख/ : 07/01/2020 Date Of Hearing घोषणाक"तारीख/ : 28/05/2020 Date Of Pronouncement

For Appellant: S/Shri Pradip N. Kapasi &For Respondent: Shri Vinay Sinha – Ld. CIT-DR
Section 115Section 115JSection 154

…1 आयकरअपीलीयअ"धकरण“जी” "यायपीठमुंबईम"। IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI "ीमनोजकुमारअ"वाल, लेखासद"यएवं "ीमतीमधु"मताराय,"या"यकसद"यकेसम"। BEFORE SHRI MANOJ KUMAR AGGARWAL, AM AND MS. MADHUMITA ROY, JM आयकरअपीलसं./ I.T.A. No. 2709/Mum/2019 ("नधा"रणवष"/ Assessment Year: 2013-14) & आयकरअपीलसं./ I.T.A. No. 4696/Mum/2019 ("नधा"रणवष"/ Assessment Year: 2013-14) & आयकरअपीलसं./ I.T.A. No. 2710/Mum/2019 ("नधा"रणवष"/ Assessment Year: 2014-15) & आयकरअपीलसं./ I.T.A. No.4697/Mum/2019 ("नधा"रणवष"/ Assessment Year: 2014-15) M/s. Windsor Machines Ltd. DCIT-Circle-3 Room No.2, “B” Wing, 6th Floor बनाम/ 102/103,…

Windsor Machines Ltd., Mumbai vs. DCIT - Circle 3, Thane

ITA 4697/MUM/2019[2014-15]Status: DisposedITAT Mumbai28 May 2020AY 2014-15

Bench: Shri Manoj Kumar Aggarwal, Am & Ms. Madhumita Roy, Jm आयकरअपीलसं./ I.T.A. No. 2709/Mum/2019 ("नधा"रणवष"/ Assessment Year: 2013-14) & आयकरअपीलसं./ I.T.A. No. 4696/Mum/2019 ("नधा"रणवष"/ Assessment Year: 2013-14) & आयकरअपीलसं./ I.T.A. No. 2710/Mum/2019 ("नधा"रणवष"/ Assessment Year: 2014-15) & आयकरअपीलसं./ I.T.A. No.4697/Mum/2019 ("नधा"रणवष"/ Assessment Year: 2014-15) M/S. Windsor Machines Ltd. Dcit-Circle-3 Room No.2, “B” Wing, 6Th Floor बनाम/ 102/103, Devmilan Chs Next To Tip Top Plaza Vs. Ashar I.T. Park, Road No.16Z Lbs Road, Thane-(W)-400 604. Wagle Estate, Thane (W)-400 604. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaacd-4302-P (अपीलाथ"/Appellant) (""यथ"/ Respondent) : Assessee By : S/Shri Pradip N. Kapasi & Shri Akhilesh Pevekar – Ld. Ars Revenue By : Shri Vinay Sinha – Ld. Cit-Dr सुनवाईक"तारीख/ : 07/01/2020 Date Of Hearing घोषणाक"तारीख/ : 28/05/2020 Date Of Pronouncement

For Appellant: S/Shri Pradip N. Kapasi &For Respondent: Shri Vinay Sinha – Ld. CIT-DR
Section 115Section 115JSection 154

…1 आयकरअपीलीयअ"धकरण“जी” "यायपीठमुंबईम"। IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI "ीमनोजकुमारअ"वाल, लेखासद"यएवं "ीमतीमधु"मताराय,"या"यकसद"यकेसम"। BEFORE SHRI MANOJ KUMAR AGGARWAL, AM AND MS. MADHUMITA ROY, JM आयकरअपीलसं./ I.T.A. No. 2709/Mum/2019 ("नधा"रणवष"/ Assessment Year: 2013-14) & आयकरअपीलसं./ I.T.A. No. 4696/Mum/2019 ("नधा"रणवष"/ Assessment Year: 2013-14) & आयकरअपीलसं./ I.T.A. No. 2710/Mum/2019 ("नधा"रणवष"/ Assessment Year: 2014-15) & आयकरअपीलसं./ I.T.A. No.4697/Mum/2019 ("नधा"रणवष"/ Assessment Year: 2014-15) M/s. Windsor Machines Ltd. DCIT-Circle-3 Room No.2, “B” Wing, 6th Floor बनाम/ 102/103,…

Windsor Machines Ltd., Mumbai vs. DCIT - Circle 3, Thane

ITA 2709/MUM/2019[2013-14]Status: DisposedITAT Mumbai28 May 2020AY 2013-14

Bench: Shri Manoj Kumar Aggarwal, Am & Ms. Madhumita Roy, Jm आयकरअपीलसं./ I.T.A. No. 2709/Mum/2019 ("नधा"रणवष"/ Assessment Year: 2013-14) & आयकरअपीलसं./ I.T.A. No. 4696/Mum/2019 ("नधा"रणवष"/ Assessment Year: 2013-14) & आयकरअपीलसं./ I.T.A. No. 2710/Mum/2019 ("नधा"रणवष"/ Assessment Year: 2014-15) & आयकरअपीलसं./ I.T.A. No.4697/Mum/2019 ("नधा"रणवष"/ Assessment Year: 2014-15) M/S. Windsor Machines Ltd. Dcit-Circle-3 Room No.2, “B” Wing, 6Th Floor बनाम/ 102/103, Devmilan Chs Next To Tip Top Plaza Vs. Ashar I.T. Park, Road No.16Z Lbs Road, Thane-(W)-400 604. Wagle Estate, Thane (W)-400 604. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaacd-4302-P (अपीलाथ"/Appellant) (""यथ"/ Respondent) : Assessee By : S/Shri Pradip N. Kapasi & Shri Akhilesh Pevekar – Ld. Ars Revenue By : Shri Vinay Sinha – Ld. Cit-Dr सुनवाईक"तारीख/ : 07/01/2020 Date Of Hearing घोषणाक"तारीख/ : 28/05/2020 Date Of Pronouncement

For Appellant: S/Shri Pradip N. Kapasi &For Respondent: Shri Vinay Sinha – Ld. CIT-DR
Section 115Section 115JSection 154

…1 आयकरअपीलीयअ"धकरण“जी” "यायपीठमुंबईम"। IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI "ीमनोजकुमारअ"वाल, लेखासद"यएवं "ीमतीमधु"मताराय,"या"यकसद"यकेसम"। BEFORE SHRI MANOJ KUMAR AGGARWAL, AM AND MS. MADHUMITA ROY, JM आयकरअपीलसं./ I.T.A. No. 2709/Mum/2019 ("नधा"रणवष"/ Assessment Year: 2013-14) & आयकरअपीलसं./ I.T.A. No. 4696/Mum/2019 ("नधा"रणवष"/ Assessment Year: 2013-14) & आयकरअपीलसं./ I.T.A. No. 2710/Mum/2019 ("नधा"रणवष"/ Assessment Year: 2014-15) & आयकरअपीलसं./ I.T.A. No.4697/Mum/2019 ("नधा"रणवष"/ Assessment Year: 2014-15) M/s. Windsor Machines Ltd. DCIT-Circle-3 Room No.2, “B” Wing, 6th Floor बनाम/ 102/103,…

M/S Ssp India Pvt. Ltd., Gurgaon vs. DCIT, Gurgaon

The appeal of the assessee stands allowed

ITA 388/DEL/2016[2011-12]Status: DisposedITAT Delhi01 May 2020AY 2011-12
For Appellant: Shri Gautam Jain, AdvFor Respondent: Shri Mritujnjay Barnwal Sr, DR
Section 115JSection 143(3)Section 144CSection 144C(1)Section 144C(13)Section 144C(3)Section 144C(5)Section 92CSection 92D

…r that Explanation. He placed reliance upon the following decisions to contend that except for adjustments provided in Explanation I section 115JB(2) of the Act, no other adjustment can be made to book profits under section 115JB of the Act :- i. Apollo Tyres 255 ITR 273 (SC) ii. Malayalam Manorma 300 ITR 251 (SC) iii.DCIT v. Bisleri Sales Ltd. 151 TTJ 285 (Mum) (ITAT) 35. The Ld. Sr. DR on the other hand supported the order of the AO on the strength of the decision of the Special Bench of the Tribunal in the case of Rain Commodities v. DCIT: 92010) 40 SOT 265. 36. We have considered the rival submissions and per…

Deputy Commissioner of Income Tax Circle-7(1)(2), Bangalore vs. M/S Yahoo Software Development Pvt Ltd, Bangalore

ITA 2510/BANG/2017[2009-10]Status: DisposedITAT Bangalore27 Apr 2020AY 2009-10

Bench: Shri N.V.Vasudevan, Vice- & Shri Chandra Poojari

For Appellant: Sri.Sriram Seshadri, CAFor Respondent: Sri.Muzaffar Hussain, CIT-DR
Section 10ASection 194ISection 40

…of the Act, even though such amount was not credited to the profit and loss account in the said year. 4B. That the learned CIT(Appeals) erred in not following the principles laid down by Hon’ble Supreme Court in the case of Apollo Tyres Limited v. CIT (2002) 255 ITR 273 (SC).” 17. The facts of the case of this issue are that the Assessing Officer tinkered the book profit by adding the additional revenue on account of subsequent realization of export, while computing the book profit u/s 115JB of the Act. The assessee 8 IT(TP)A No.133/Bang/2018 M/s.Yahoo Software Development Pvt.Ltd. has revised the return of in…

Income-Tax Officer, Haveri vs. M/S.Mahalaxmi Urban Co-Op Society Ltd., Haveri

ITA 133/BANG/2017[2013-14]Status: DisposedITAT Bangalore27 Apr 2020AY 2013-14

Bench: Shri N.V.Vasudevan, Vice- & Shri Chandra Poojari

For Appellant: Sri.Sriram Seshadri, CAFor Respondent: Sri.Muzaffar Hussain, CIT-DR
Section 10ASection 194ISection 40

…of the Act, even though such amount was not credited to the profit and loss account in the said year. 4B. That the learned CIT(Appeals) erred in not following the principles laid down by Hon’ble Supreme Court in the case of Apollo Tyres Limited v. CIT (2002) 255 ITR 273 (SC).” 17. The facts of the case of this issue are that the Assessing Officer tinkered the book profit by adding the additional revenue on account of subsequent realization of export, while computing the book profit u/s 115JB of the Act. The assessee 8 IT(TP)A No.133/Bang/2018 M/s.Yahoo Software Development Pvt.Ltd. has revised the return of in…