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 367,518 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

ACIT, CC- 3(4), Kolkata vs. M/S. Himatsingka Seide Limited, Bangalore

In the result, appeal of the assessee in IT(SS)A No

ITA 785/KOL/2018[2008-09]Status: DisposedITAT Kolkata15 Mar 2024AY 2008-09

Bench: Shri Sanjay Garg & Shri Girish Agrawalit(Ss)A No.17/Kol/2018 Assessment Year: 2008-09 Himatsingka Seide Ltd. Deputy Commissioner Of 10/24, Kumara Krupa Road, High Vs. Income Tax, Central Circle- Grounds, Bangalore-560001. Xvi, Kolkata. (Pan: Aaach3507N) (Appellant) (Respondent) & It(Ss)A No.20/Kol/2018 Assessment Year: 2008-09 Assistant Commissioner Of Himatsingka Seide Ltd. Vs. Income-Tax, Central Circle-3(4), Kolkata. (Appellant) (Respondent) & Assessment Year: 2008-09 Assistant Commissioner Of Himatsingka Seide Ltd. Vs. Income-Tax, Central Circle-3(4), Kolkata. (Appellant) (Respondent)

For Appellant: Shri Nageswar Rao, Sr. AdvocateFor Respondent: Shri Abhijit Kundu, CIT, DR
Section 143(3)Section 14ASection 153ASection 271Section 92C

…08-09 book profits in accordance with the aforesaid provision and there is no exemption granted to the non-dividend company in this regard. However, the tribunal by placing reliance on decision of the Supreme Court in Apollo Tyres v. CIT [2002] 122 Taxman 562/255 ITR 273 has held that Assessing Officer while determining book profits under section 115JB of the Act cannot tamper with the profits as per profit and loss account prepared in accordance with the Companies Act except in the manner provided in Explanation 1 to section 115JB of the Act. Thus, it has been held that the additions made by the Assessing Office…

Shivi Holdings Pvt. Ltd, New Delhi vs. ACIT Circle-23(1), New Delhi

In the result, the appeal of the assessee is allowed

ITA 2402/DEL/2019[2015-16]Status: DisposedITAT Delhi05 Mar 2024AY 2015-16

Bench: Shri Saktijit Dey & Shri M. Balaganeshshivi Holdings Pvt. Ltd, Vs. Acit, G-16, Marina Acade, Circle-23(1), Connaught Circus, New New Delhi Delhi (Appellant) (Respondent) Pan: Aaaco2664H

For Appellant: Dr. Rakesh Gupta, AdvFor Respondent: Shri Asish Chandra Mohanty, CIT DR
Section 115JSection 143(3)

…,31,641/- in Book Profit of the appellant company for the purpose of Section 115JB of the Act without considering the facts of the case and also the decision of the Hon'ble Shivi Holdings Pvt. Ltd Supreme Court in the case of Apollo Tyres Ltd. vs. CIT (2002) 255 ITR 273 (SC) and other judgements. 3. That the CIT(A) erred in upholding the disallowance made by the AO of Rs. 11,04,54,306/- in the amount of Long Term Capital Loss to be carried over without appreciating the facts of the case and the legal position that the appellant company had correctly determined the amount of Capital Loss adopting the rate at whic…

Gujarat Urja Vikas Nigam Ltd, Vadodara vs. The ACIT, Cirecle-1(1)(1), Vadodara

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

ITA 318/AHD/2020[2016-17]Status: DisposedITAT Ahmedabad29 Feb 2024AY 2016-17

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

For Appellant: Shri M. J. Shah, A.R. & Shri Jimi Patel , A.RFor Respondent: Shri Sudhendu Das, CIT DR
Section 143(3)Section 14ASection 234ASection 271(1)(c)

…with Explanation 115JB not specifically mentioning Section 14A of the Act, the addition of Rs.89,00,000 was not justified. The view taken by the ITAT cannot be faulted with. It is consistent with the decision in Apollo Tyres Ltd. V. Commissioner of Income Tax 255 ITR 273 (SC) which held that “the Assessing Officer does not have the ITA Nos.318&414/Ahd/2020 Gujarat Urja Vikas Nigam Ltd. vs. ACIT/DCIT Asst.Year– 2016-17 jurisdiction to go behind the net profit shown in the profit and loss account except to the extent provided in the Explanation to Section 115J.” The Court declines to frame a question on the above…

ACIT (OSD) Corporate Range 1, Chennai vs. Dong A India Automotive Private Limited, Kancheepuram

In the result, appeals filed by the assessee’s in ITA No

ITA 1365/CHNY/2019[2008-09]Status: DisposedITAT Chennai19 Jan 2024AY 2008-09

Bench: Shri Mahavir Singh, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकरअपीलसं./Ita No.: 585/Chny/2017 िनधा"रणवष" / Assessment Year: 2012-13 Ls Automotive India Private Limited Assistant Commissioner Of (Formerly Known As Daesung V. Income Tax (Osd), Electric India Pvt Ltd) Corporate Range 1, Room No. 603, 6Th Floor, No. 118, Padur Village, Thiruvelangadu Post, Wanaparthy Block, Kunnavalam V.O. No. 121, Aayakarbhavan, Thiruvallur – 631 210. Mahatma Gandhi Road, [Pan: Aakcs-1901-R] Nungamabakkam, Chennai – 600 034. (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./Ita No.: 2159/Chny/2017 िनधा"रणवष" / Assessment Year: 2013-14 Komos Automotive India Pvt Deputy Commissioner Of Limited, V. Income Tax, B-10/1, Sipcot Industrial Corporate Circle 4(2), 4Th Floor, Main Building, Development Centre, Oragadam, Vaippur-A Vilalge, No. 121, Mahatma Gandhi Sriperumbudurtaluk, Road, Nungamabakkam, Kanchipuramdist – 602 105. Chennai – 600 034. [Pan: Aacck-8859-N] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./It(Tp)A No.: 40/Chny/2019 &

Section 115JSection 40

…h the parties, perused materials available on record and gone through orders of the authorities below. The coordinate bench of ITAT Mumbai has considered identical issue and by following the decision of Hon’ble Supreme Court in the case of Apollo Tyres vs CIT 255 ITR 273 held that, no adjustment can be made to book profit with reference to TP adjustment because there is no such provision under law that permits the AO to make adjustment on account of transfer pricing adjustment to the amount of profit shown by the assessee in its profit and loss account for the purpose :-19-: ITA. No: 585/Chny/2017, 360/Chny/2018…

Dong-A India Automotive Pvt Limited, Kancheepuram vs. ITO, Corporate Ward 1(4), Chennai

In the result, appeals filed by the assessee’s in ITA No

ITA 360/CHNY/2018[2013-14]Status: DisposedITAT Chennai19 Jan 2024AY 2013-14

Bench: Shri Mahavir Singh, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकरअपीलसं./Ita No.: 585/Chny/2017 िनधा"रणवष" / Assessment Year: 2012-13 Ls Automotive India Private Limited Assistant Commissioner Of (Formerly Known As Daesung V. Income Tax (Osd), Electric India Pvt Ltd) Corporate Range 1, Room No. 603, 6Th Floor, No. 118, Padur Village, Thiruvelangadu Post, Wanaparthy Block, Kunnavalam V.O. No. 121, Aayakarbhavan, Thiruvallur – 631 210. Mahatma Gandhi Road, [Pan: Aakcs-1901-R] Nungamabakkam, Chennai – 600 034. (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./Ita No.: 2159/Chny/2017 िनधा"रणवष" / Assessment Year: 2013-14 Komos Automotive India Pvt Deputy Commissioner Of Limited, V. Income Tax, B-10/1, Sipcot Industrial Corporate Circle 4(2), 4Th Floor, Main Building, Development Centre, Oragadam, Vaippur-A Vilalge, No. 121, Mahatma Gandhi Sriperumbudurtaluk, Road, Nungamabakkam, Kanchipuramdist – 602 105. Chennai – 600 034. [Pan: Aacck-8859-N] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./It(Tp)A No.: 40/Chny/2019 &

Section 115JSection 40

…h the parties, perused materials available on record and gone through orders of the authorities below. The coordinate bench of ITAT Mumbai has considered identical issue and by following the decision of Hon’ble Supreme Court in the case of Apollo Tyres vs CIT 255 ITR 273 held that, no adjustment can be made to book profit with reference to TP adjustment because there is no such provision under law that permits the AO to make adjustment on account of transfer pricing adjustment to the amount of profit shown by the assessee in its profit and loss account for the purpose :-19-: ITA. No: 585/Chny/2017, 360/Chny/2018…

Daesung Electric India Pvt. Ltd., Thiruvallur vs. ACIT (OSD), Chennai

In the result, appeals filed by the assessee’s in ITA No

ITA 585/CHNY/2017[2012-13]Status: DisposedITAT Chennai19 Jan 2024AY 2012-13

Bench: Shri Mahavir Singh, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकरअपीलसं./Ita No.: 585/Chny/2017 िनधा"रणवष" / Assessment Year: 2012-13 Ls Automotive India Private Limited Assistant Commissioner Of (Formerly Known As Daesung V. Income Tax (Osd), Electric India Pvt Ltd) Corporate Range 1, Room No. 603, 6Th Floor, No. 118, Padur Village, Thiruvelangadu Post, Wanaparthy Block, Kunnavalam V.O. No. 121, Aayakarbhavan, Thiruvallur – 631 210. Mahatma Gandhi Road, [Pan: Aakcs-1901-R] Nungamabakkam, Chennai – 600 034. (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./Ita No.: 2159/Chny/2017 िनधा"रणवष" / Assessment Year: 2013-14 Komos Automotive India Pvt Deputy Commissioner Of Limited, V. Income Tax, B-10/1, Sipcot Industrial Corporate Circle 4(2), 4Th Floor, Main Building, Development Centre, Oragadam, Vaippur-A Vilalge, No. 121, Mahatma Gandhi Sriperumbudurtaluk, Road, Nungamabakkam, Kanchipuramdist – 602 105. Chennai – 600 034. [Pan: Aacck-8859-N] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./It(Tp)A No.: 40/Chny/2019 &

Section 115JSection 40

…h the parties, perused materials available on record and gone through orders of the authorities below. The coordinate bench of ITAT Mumbai has considered identical issue and by following the decision of Hon’ble Supreme Court in the case of Apollo Tyres vs CIT 255 ITR 273 held that, no adjustment can be made to book profit with reference to TP adjustment because there is no such provision under law that permits the AO to make adjustment on account of transfer pricing adjustment to the amount of profit shown by the assessee in its profit and loss account for the purpose :-19-: ITA. No: 585/Chny/2017, 360/Chny/2018…

Komos Automotive India Pvt Ltd, Kanchipuram vs. DCIT, Corporate Circle4(2), Chennai

In the result, appeals filed by the assessee’s in ITA No

ITA 2159/CHNY/2017[2013-14]Status: DisposedITAT Chennai19 Jan 2024AY 2013-14

Bench: Shri Mahavir Singh, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकरअपीलसं./Ita No.: 585/Chny/2017 िनधा"रणवष" / Assessment Year: 2012-13 Ls Automotive India Private Limited Assistant Commissioner Of (Formerly Known As Daesung V. Income Tax (Osd), Electric India Pvt Ltd) Corporate Range 1, Room No. 603, 6Th Floor, No. 118, Padur Village, Thiruvelangadu Post, Wanaparthy Block, Kunnavalam V.O. No. 121, Aayakarbhavan, Thiruvallur – 631 210. Mahatma Gandhi Road, [Pan: Aakcs-1901-R] Nungamabakkam, Chennai – 600 034. (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./Ita No.: 2159/Chny/2017 िनधा"रणवष" / Assessment Year: 2013-14 Komos Automotive India Pvt Deputy Commissioner Of Limited, V. Income Tax, B-10/1, Sipcot Industrial Corporate Circle 4(2), 4Th Floor, Main Building, Development Centre, Oragadam, Vaippur-A Vilalge, No. 121, Mahatma Gandhi Sriperumbudurtaluk, Road, Nungamabakkam, Kanchipuramdist – 602 105. Chennai – 600 034. [Pan: Aacck-8859-N] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./It(Tp)A No.: 40/Chny/2019 &

Section 115JSection 40

…h the parties, perused materials available on record and gone through orders of the authorities below. The coordinate bench of ITAT Mumbai has considered identical issue and by following the decision of Hon’ble Supreme Court in the case of Apollo Tyres vs CIT 255 ITR 273 held that, no adjustment can be made to book profit with reference to TP adjustment because there is no such provision under law that permits the AO to make adjustment on account of transfer pricing adjustment to the amount of profit shown by the assessee in its profit and loss account for the purpose :-19-: ITA. No: 585/Chny/2017, 360/Chny/2018…

D.C.I.T., Circle-6(1), Kolkata vs. M/S Birla Corporation Ltd., Kolkata

In the result, the appeal of the revenue as well as cross-objection of the assessee are partly allowed

ITA 1964/KOL/2019[2015-16]Status: DisposedITAT Kolkata16 Jan 2024AY 2015-16

Bench: Shri Sanjay Garg & Shri Girish Agrawali.T.A. No.1964/Kol/2019 Assessment Year: 2015-16 Dcit, Circle-6(1), Kolkata…………….......................…...……………....Appellant Vs. M/S Birla Corporation Ltd…………...........…..........................…..…..... Respondent Birla Building, 9/1, R.N. Mukherjee Road, Kolkata – 700001. [Pan: Aabcb2075J] C.O. 39/Kol/2019 (A/O I.T.A. No.1964/Kol/2019) Assessment Year: 2015-16 M/S Birla Corporation Ltd…………...........….....................…..…..... Cross-Objector Birla Building, 9/1, R.N. Mukherjee Road, Kolkata – 700001. [Pan: Aabcb2075J] Vs Dcit, Circle-6(1), Kolkata…………….......................…...……………....Respondent Appearances By: Shri Abhijit Kundu, Cit-Dr, Advocate, Appeared On Behalf Of The Department. Shri J. P. Khaitan, Sr. Counsel, Appeared On Behalf Of The Assessee. Date Of Concluding The Hearing : October 18, 2023 Date Of Pronouncing The Order : January 16, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal By The Revenue & The Corresponding Cross Objections By The Assessee Have Been Preferred Against The Order Dated 30.05.2019 Of The Commissioner Of Income Tax (Appeals)-22, Kolkata [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). First, We Take Up Revenue’S Appeal Ita No.1964/Kol/2019. I.T.A. No.1964/Kol/2019 & C.O. 39/Kol/2019 M/S Birla Corporation Ltd

Section 115JSection 14ASection 250Section 80I

…ax on book profits in accordance with the aforesaid provision and there is no exemption granted to the non-dividend company in this regard. However, the tribunal by placing reliance on decision of the Supreme Court in Apollo Tyres v. CIT [2002] 122 Taxman 562/255 ITR 273 has held that Assessing Officer while determining book profits under section 115JB of the Act cannot tamper with the profits as per profit and loss I.T.A. No.1964/Kol/2019 & C.O. 39/Kol/2019 M/s Birla Corporation Ltd account prepared in accordance with the Companies Act except in the manner provided in Explanation 1 to section 115JB of the Act.…

Thomas Cook (India) Ltd., Mumbai vs. Addl/ Jt/ Dy/CIT/Asstt/ITO, National E-Assessment Centre, Delhi

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

ITA 1218/MUM/2021[2016-17]Status: DisposedITAT Mumbai24 Nov 2023AY 2016-17

Bench: Shri S. Rifaur Rahman, Hon'Ble & Ms. Kavitha Rajagopal, Hon'Ble

Section 92CSection 92C(3)

…n. This view has been accepted by the Karnataka High Court in the case of Best Trading and Agencies Ltd. v. DCIT (119 Taxmann.com 129) wherein the Karnataka High Court has after considering the decision of the Apex Court in the case of Apollo Tyres Ltd v CIT [255 ITR 273] has allowed the claim of the Assessee of indexation while computing book profit. 107. Further, reliance is placed on the decision of the coordinate bench of the Tribunal in the case of Karnataka State Industrial Infrastructure Development Corporation Ltd v. DCIT [76 taxmann.com 360 (Bang)]. The Assessee submits that even as per clause (ii) of E…

Sicom Ltd, Mumbai vs. Dy Commissioner of Income Tax Circle 3(3)(1), Mumbai

In the result, the appeal filed by the assesee is partly allow for statistical purpose and the appeal filed by the revenue is allowed for statistical purposes

ITA 1694/MUM/2023[2013-2014]Status: DisposedITAT Mumbai22 Nov 2023AY 2013-2014

Bench: Shri Om Prakash Kant & Shri Pavan Kumar Gadale, Judicialmember Sicom Ltd, Vs. Dy Commissioner Of Solitaire Corporate Income Tax Circle Park, Bldg No.04, 3(3)(1), Chakala, Andheri(E), 6Th Floor, Room No. Mumbai-400093. 609,Aayakar Bhavan, Maharishi Karve Road, Mumbai- 400020. "थायी लेखा सं./जीआइआर सं.Pan/Gir No. Aaacs5524J (अपीलाथ"/Applicant) (""यथ"/Respondent) Dy Commissioner Of Vs. Sicom Ltd, Income Tax Circle Solitaire Corporate Park, 3(3)(1), Bldg No.04, Chakala, 6Th Floor, Room No. Andheri(E), 609,Aayakar Bhavan, Mumbai-400093. Maharishi Karve Road, Mumbai- 400020. "थायी लेखा सं./जीआइआर सं.Pan/Gir No. Aaacs5524J (अपीलाथ"/Applicant) (""यथ"/Respondent)

Section 10(34)Section 14ASection 234BSection 36(1)(ii)Section 36(1)(iii)

…rd, the Appellant submits that adjustment cannot be made in the book profit under section 115JB of the Act for the items which are not mentioned specifically in the explanation to section 115JB of the Act, relying on the decision of Apollo Tyres Ltd. Vs. CIT (255 ITR 273) (SC). 3. At the outset, the Appellant wishes to place reliance on the decision of Hon'ble Tribunal in Appellant's own case for AY 2012-13 in. ITA 1998/M/2017 dated 14 November 2018 wherein the Hon'ble Tribunal, relying on the Special Bench ruling in case ACIT vs Vireet Industries Pvt. Ltd. (188 TTJ 1) has been held that computation of adjusted b…

ACIT 16(1), Mumbai vs. 9X Media P.Ltd, Mumbai

ITA 4600/MUM/2017[2012-13]Status: DisposedITAT Mumbai21 Nov 2023AY 2012-13

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

For Appellant: Shri Ashok Rao, CAFor Respondent: Ms. Riddhi Mishra, CIT DR
Section 115Section 14ASection 35D

…to credit the same below the line and not in the normal profit and loss account. Thus, according to him, such adjustment was against the spirit of demerger. He further relied upon the decision of the Hon'ble Supreme Court in case of Apollo Tyres Ltd. Vs. CIT 255 ITR 273. He also rejected the contention of the assessee that such sum is capital profit. He held that such surplus is not a simple capital profit, but is a capital gain arising on transfer of a live business. Accordingly, he confirmed the action of the learned Assessing Officer. iii. Regarding the addition of ₹1,42,63,197/-, being provision for doubtfu…

9X Media P.Ltd, Mumbai vs. Asst CIT 16(1), Mumbai

ITA 3606/MUM/2017[2012-13]Status: DisposedITAT Mumbai21 Nov 2023AY 2012-13

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

For Appellant: Shri Ashok Rao, CAFor Respondent: Ms. Riddhi Mishra, CIT DR
Section 115Section 14ASection 35D

…to credit the same below the line and not in the normal profit and loss account. Thus, according to him, such adjustment was against the spirit of demerger. He further relied upon the decision of the Hon'ble Supreme Court in case of Apollo Tyres Ltd. Vs. CIT 255 ITR 273. He also rejected the contention of the assessee that such sum is capital profit. He held that such surplus is not a simple capital profit, but is a capital gain arising on transfer of a live business. Accordingly, he confirmed the action of the learned Assessing Officer. iii. Regarding the addition of ₹1,42,63,197/-, being provision for doubtfu…

ACIT 16(1), Mumbai vs. 9X Media P.Ltd, Mumbai

ITA 7477/MUM/2016[2011-12]Status: DisposedITAT Mumbai21 Nov 2023AY 2011-12

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

For Appellant: Shri Ashok Rao, CAFor Respondent: Ms. Riddhi Mishra, CIT DR
Section 115Section 14ASection 35D

…to credit the same below the line and not in the normal profit and loss account. Thus, according to him, such adjustment was against the spirit of demerger. He further relied upon the decision of the Hon'ble Supreme Court in case of Apollo Tyres Ltd. Vs. CIT 255 ITR 273. He also rejected the contention of the assessee that such sum is capital profit. He held that such surplus is not a simple capital profit, but is a capital gain arising on transfer of a live business. Accordingly, he confirmed the action of the learned Assessing Officer. iii. Regarding the addition of ₹1,42,63,197/-, being provision for doubtfu…

9X Media P.Ltd, Mumbai vs. JCIT RG 11(1), Mumbai

ITA 7052/MUM/2016[2011-12]Status: DisposedITAT Mumbai21 Nov 2023AY 2011-12

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

For Appellant: Shri Ashok Rao, CAFor Respondent: Ms. Riddhi Mishra, CIT DR
Section 115Section 14ASection 35D

…to credit the same below the line and not in the normal profit and loss account. Thus, according to him, such adjustment was against the spirit of demerger. He further relied upon the decision of the Hon'ble Supreme Court in case of Apollo Tyres Ltd. Vs. CIT 255 ITR 273. He also rejected the contention of the assessee that such sum is capital profit. He held that such surplus is not a simple capital profit, but is a capital gain arising on transfer of a live business. Accordingly, he confirmed the action of the learned Assessing Officer. iii. Regarding the addition of ₹1,42,63,197/-, being provision for doubtfu…

M/S Pvr Ltd., New Delhi vs. Addl. CIT, New Delhi

In the result, the appeal of the assessee is allowed

ITA 2143/DEL/2011[2007-08]Status: DisposedITAT Delhi07 Nov 2023AY 2007-08

Bench: Sh. N. K. Billaiya & Ms. Astha Chandraassessment Year: 2007-08 M/S. Pvr Ltd. Addl. Cit Range-14 New Delhi 61, Basant Lok, Vasant Vihar Vs New Delhi-110057 Pan No.Aaacp4526D (Appellant) (Respondent)

Section 115JSection 14ASection 43(1)Section 43B

…order we are of the considered view that the AO does not have jurisdiction to go beyond net profit shown in P & L account except to the extent profit in explanation of section 115JB of the Act. As held by the Hon’ble Supreme Court in the case of Apollo Tyres 255 ITR 273, Malayala Manorama Co. Ltd 300 ITR 0251. 18. Respectfully following the ratio laiddown by the Hon’ble Supreme Court we direct the AO not to consider the impugned disallowance of depreciation for the computation of book profit u/s. 115JB of the Act. Similar would be the fate of disallowances u/s. 14A read with rule 8D though we have deleted the sa…

Cognizant Technology Solutions India Private Ltd., Chennai vs. ACIT, Central Circle1(1), Chennai

The appeal stand dismissed

ITA 159/CHNY/2022[2009-10]Status: DisposedITAT Chennai06 Nov 2023AY 2009-10

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ Ita No.159/Chny/2022 (िनधा*रण वष* / Assessment Year: 2009-10) M/S. Cognizant Technology Solutions India Acit Pvt. Ltd. Central Circle-1(1), बनाम/ New No.165, Old No.110, Chennai. Vs. Menon Eternity Building, 6Th Floor, St. Mary’S Road, Alwarpet, Chennai-600 018. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaacd-3312-M (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri N.V.Balaji (Advocate)-Ld.Ar " थ"कीओरसे/Respondent By : Shri S.Senthil Kumaran (Cit) -Ld. Dr Date Of Final Hearing : 01-11-2023 : 06-11-2023 Date Of Pronouncement

For Appellant: Shri N.V.Balaji (Advocate)-Ld.ARFor Respondent: Shri S.Senthil Kumaran (CIT) -Ld. DR
Section 115J

…आयकर अपीलीय अिधकरण “बी” "ायपीठ चे"ई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, CHENNAI माननीय "ी महावीर िसंह, उपा ! एवं माननीय "ी मनोज कुमार अ&वाल ,लेखा सद) के सम!। BEFORE HON’BLE SHRI MAHAVIR SINGH, VP AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM आयकरअपील सं./ ITA No.159/Chny/2022 (िनधा*रण वष* / Assessment Year: 2009-10) M/s. Cognizant Technology Solutions India ACIT Pvt. Ltd. Central Circle-1(1), बनाम/ New No.165, Old No.110, Chennai. Vs. Menon Eternity Building, 6th floor, St. Mary’s Road, Alwarpet, Chennai-600 018. "थायीलेखासं./जीआइआरसं./PAN/GIR No. AAACD-3312-M (अपीलाथ"/Appellant) : (" थ" / Respondent)…

DCIT- 3(4), Mumbai vs. M/S Reliance Industries Limited, Mumbai

In the result, both the appeals of the assessee and both the appeals of the revenue are treated as partly allowed

ITA 2588/MUM/2022[2018-19]Status: DisposedITAT Mumbai18 Oct 2023AY 2018-19

Bench: Shri B.R. Baskaran (Am) & Shri Pavan Kumar Gadale (Jm)

Section 14ASection 250(6)Section 32Section 35

…THE INCOME TAX APPELLATE TRIBUNAL “J” Bench, Mumbai Before Shri B.R. Baskaran (AM) & Shri Pavan Kumar Gadale (JM) I.T.A. No. 2587 & 2588/Mum/2022 (Assessment Year : 2017-18 & 2018-19) DCIT-3(4) M/s. Reliance Industries Ltd. 29th floor, Centre-1 Vs. 3rd Floor, Maker Chambers World Trade Centre IV, 222, Nariman Point Cuffe Parade Mumbai-400 021. Mumbai-400 005. (Appellant) (Respondent) I.T.A. No. 2318 & 2317/Mum/2022 (Assessment Year : 2017-18 & 2018-19) & C.O. No. 137/Mum/2022 (Arising out of ITA No.2588/M/2022) (Assessment Year : 2018-19) M/s. Reliance Industries Ltd. DCIT-3(4) 3rd Floor, Maker Chambers Vs. 2…

DCIT-3(4), Mumbai vs. M/S Reliance Industries Limited, Mumbai

In the result, both the appeals of the assessee and both the appeals of the revenue are treated as partly allowed

ITA 2587/MUM/2022[2017-18]Status: DisposedITAT Mumbai18 Oct 2023AY 2017-18

Bench: Shri B.R. Baskaran (Am) & Shri Pavan Kumar Gadale (Jm)

Section 14ASection 250(6)Section 32Section 35

…THE INCOME TAX APPELLATE TRIBUNAL “J” Bench, Mumbai Before Shri B.R. Baskaran (AM) & Shri Pavan Kumar Gadale (JM) I.T.A. No. 2587 & 2588/Mum/2022 (Assessment Year : 2017-18 & 2018-19) DCIT-3(4) M/s. Reliance Industries Ltd. 29th floor, Centre-1 Vs. 3rd Floor, Maker Chambers World Trade Centre IV, 222, Nariman Point Cuffe Parade Mumbai-400 021. Mumbai-400 005. (Appellant) (Respondent) I.T.A. No. 2318 & 2317/Mum/2022 (Assessment Year : 2017-18 & 2018-19) & C.O. No. 137/Mum/2022 (Arising out of ITA No.2588/M/2022) (Assessment Year : 2018-19) M/s. Reliance Industries Ltd. DCIT-3(4) 3rd Floor, Maker Chambers Vs. 2…

Reliance Industries Limited, Mumbai vs. Dy Commissioner of Income Tax Circle-3(4), Mumbai

In the result, both the appeals of the assessee and both the appeals of the revenue are treated as partly allowed

ITA 2318/MUM/2022[2017-18]Status: DisposedITAT Mumbai18 Oct 2023AY 2017-18

Bench: Shri B.R. Baskaran (Am) & Shri Pavan Kumar Gadale (Jm)

Section 14ASection 250(6)Section 32Section 35

…THE INCOME TAX APPELLATE TRIBUNAL “J” Bench, Mumbai Before Shri B.R. Baskaran (AM) & Shri Pavan Kumar Gadale (JM) I.T.A. No. 2587 & 2588/Mum/2022 (Assessment Year : 2017-18 & 2018-19) DCIT-3(4) M/s. Reliance Industries Ltd. 29th floor, Centre-1 Vs. 3rd Floor, Maker Chambers World Trade Centre IV, 222, Nariman Point Cuffe Parade Mumbai-400 021. Mumbai-400 005. (Appellant) (Respondent) I.T.A. No. 2318 & 2317/Mum/2022 (Assessment Year : 2017-18 & 2018-19) & C.O. No. 137/Mum/2022 (Arising out of ITA No.2588/M/2022) (Assessment Year : 2018-19) M/s. Reliance Industries Ltd. DCIT-3(4) 3rd Floor, Maker Chambers Vs. 2…

Reliance Industries Ltd., Mumbai vs. ACIT Circle 3(4), Mumbai

In the result, both the appeals of the assessee and both the appeals of the revenue are treated as partly allowed

ITA 2317/MUM/2022[2018-19]Status: DisposedITAT Mumbai18 Oct 2023AY 2018-19

Bench: Shri B.R. Baskaran (Am) & Shri Pavan Kumar Gadale (Jm)

Section 14ASection 250(6)Section 32Section 35

…THE INCOME TAX APPELLATE TRIBUNAL “J” Bench, Mumbai Before Shri B.R. Baskaran (AM) & Shri Pavan Kumar Gadale (JM) I.T.A. No. 2587 & 2588/Mum/2022 (Assessment Year : 2017-18 & 2018-19) DCIT-3(4) M/s. Reliance Industries Ltd. 29th floor, Centre-1 Vs. 3rd Floor, Maker Chambers World Trade Centre IV, 222, Nariman Point Cuffe Parade Mumbai-400 021. Mumbai-400 005. (Appellant) (Respondent) I.T.A. No. 2318 & 2317/Mum/2022 (Assessment Year : 2017-18 & 2018-19) & C.O. No. 137/Mum/2022 (Arising out of ITA No.2588/M/2022) (Assessment Year : 2018-19) M/s. Reliance Industries Ltd. DCIT-3(4) 3rd Floor, Maker Chambers Vs. 2…