Associated Capsules Pvt. Ltd. v. DCIT

M/S. Larsen & Tourbro Ltd., Mumbai vs. Dy Commissioner of Income Tax, Central Circle-2(2) & 5(4), Mumbai

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

Bench: Shri B.R. Baskaran & Shri Anikesh Banerjeeassessment Year : 2004-05 M/S. Larsen & Toubro Ltd., Deputy Commissioner Of L&T House, Income Tax, N.M. Marg, Vs. Central Circle-5(4), Ballard Estate, Fort, [Erstwhile Income Tax Officer-2(2), Mumbai] Mumbai 19Th Floor, Air India Building, Pan : Aaacl0140P Nariman Point, Mumbai (Appellant) (Respondent)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI “A” BENCH : MUMBAI BEFORE SHRI B.R. BASKARAN, ACCOUNTANT MEMBER AND SHRI ANIKESH BANERJEE, JUDICIAL MEMBER Assessment Year : 2004-05 M/s. Larsen & Toubro Ltd., Deputy Commissioner of L&T House, Income Tax, N.M. Marg, vs. Central Circle-5(4), Ballard Estate, Fort, [erstwhile Income Tax Officer-2(2), Mumbai] Mumbai 19th Floor, Air India Building, PAN : AAACL0140P Nariman Point, Mumbai (Appellant) (Respondent) For Assessee : Shri J.D. Mistry & Shri Madhur Agarwal For Revenue : Dr. K.R. Subhash, CIT-DR Date of Hearing : 19-12-2024 Date of Pronouncement : 23-01-2025 O R D…

M/S. Mariko Industries Ltd vs. The ACIT Cen Cir 35

Bench: Shri Amit Shukla (Jm) & Shri Omkareshwar Chidara (Am)

…o uphold the position taken by the Ld. AO. Aggrieved by this reduction of deduction claimed by the appellant company, Ld. AR of the appellant has placed reliance on the Judgment of Hon'ble Bombay High Court in the case of Associated Capsules (P) Ltd. Vs. DCIT 332 ITR 42. 8.2) During the course of hearing before the ITAT, Ld. AR of the appellant relied on this decision. Hon'ble Bombay High Court has held in this case that section 80IA(9A) of the Act will not have any application at the stage of computation and it will come into application only at the stage of allowing deduction. In other words, Hon'ble Bombay Hig…

Procter & Gamble Hygine & Health Care Ltd, Mumbai vs. Addl CIT RG 7(1), Mumbai

In the result, appeal of the assessee is allowed

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘J‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI GAGAN GOYAL, ACCOUNTANT MEMBER Procter & Gamble Vs. Joint Commissioner of Hygiene & Healthcare Income Tax (OSD) Limited Range-8(2) P & G Plaza Cardinal Mumbai Gracias Road Chakala, Andheri(E) Mumbai-400 009 PAN/GIR No.AAACP6332M (Appellant) .. (Respondent) Assessee by Shri Dhanesh Bafna & Shri Yogesh Thar Revenue by Shri Asif Karmali Date of Hearing 23/11/2023 Date of Pronouncement 29/12/2023 आदेश / O R D E R PER AMIT SHUKLA (J.M): The aforesaid appeal has been filed by the assessee against order dated 06…

M/S Sanofi India Ltd (Formerly Known As Aventis Pharma Ltd, Mumbai vs. The ACIT RG 8(1), Mumbai

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Vikas Awasthy, Hon’Ble & Shri S. Rifaur Rahman, Hon'Ble

…ed in directing not to deduct profit of ₹.8,21,42,894/- u/s 80IB while determining profit eligible for deduction u/s 80HHC. Ld. AR of the assessee submitted that the identical issue has been decided in the case of Associated Capsules Pvt. Ltd., v. DCIT (1994) 332 ITR 42 (Bom) and the Hon'ble High Court has decided the issue in favour of the assessee. Ld. AR of the assessee requested the principle laid down by the Hon'ble High Court may be followed. 93. On the other hand, Ld.DR relied on the assessment order. Further, Ld.DR relied on the order of the Ahamadad Bench of the Tribunal in the case of ITO v. Madhusudha…

ACIT- 3(1)(1), Mumbai vs. Mm/S Sanofi India Limited (Formerly Known As Aventis Pharma Ltd)., Mumbai

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Vikas Awasthy, Hon’Ble & Shri S. Rifaur Rahman, Hon'Ble

…ed in directing not to deduct profit of ₹.8,21,42,894/- u/s 80IB while determining profit eligible for deduction u/s 80HHC. Ld. AR of the assessee submitted that the identical issue has been decided in the case of Associated Capsules Pvt. Ltd., v. DCIT (1994) 332 ITR 42 (Bom) and the Hon'ble High Court has decided the issue in favour of the assessee. Ld. AR of the assessee requested the principle laid down by the Hon'ble High Court may be followed. 93. On the other hand, Ld.DR relied on the assessment order. Further, Ld.DR relied on the order of the Ahamadad Bench of the Tribunal in the case of ITO v. Madhusudha…

Procter & Gamgle Hygiene& Healthcare, Ltd, Mumbai vs. ACIT Cir 7(1), Mumbai

Appeals are partly allowed

…and calls for no adjudication.‖ 11.6. On perusal of above decision of the Tribunal, we find that identical issues stands decided in favour of the Assessee by the decision of the Hon’ble Bombay High Court in the case of Associated Capsules Pvt. Ltd. Vs. DCIT : 332 ITR 42 (Bom). The provisions of Section 80IA(9) of the Act are attracted only in the case where total deduction allowed under Heading C of Chapter VIA of the Act dealing with ‘Deductions in respect of certain incomes' exceed the profits of the business. Thus, Section 80IA(9) of the Act curtails the allowance of deduction and not the computation of deduct…

Addl CIT RG 7(1), Mumbai vs. Proctor & Gamble Hygiene & Healthcare Ltd, Mumbai

Appeals are partly allowed

…and calls for no adjudication.‖ 11.6. On perusal of above decision of the Tribunal, we find that identical issues stands decided in favour of the Assessee by the decision of the Hon’ble Bombay High Court in the case of Associated Capsules Pvt. Ltd. Vs. DCIT : 332 ITR 42 (Bom). The provisions of Section 80IA(9) of the Act are attracted only in the case where total deduction allowed under Heading C of Chapter VIA of the Act dealing with ‘Deductions in respect of certain incomes' exceed the profits of the business. Thus, Section 80IA(9) of the Act curtails the allowance of deduction and not the computation of deduct…

M/S. Indagro Foods Ltd., Mumbai vs. ACIT - (OSD) 2(1), Mumbai

In the result, appeal of the assessee is allowed

Bench: Shri Pawan Singh & Shri N.K. Pradhan

…IN THE INCOME-TAX APPELLATE TRIBUNAL “D” BENCH MUMBAI BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER AND SHRI N.K. PRADHAN, ACCOUNTANT MEMBER ITA No. 7343/Mum/2008 (Assessment Year 2004-05) M/s Indagro Foods Ltd., ACIT (OSD)-2(1), Allana House, 4 J.A. Allana Aayakar Bhavan, M.K. Road, Vs. Marg, Kolaba, Mumbai-400020. Mumbai-400001. PAN: AAACI6584Q Appellant Respondent Appellant by : Shri Percy Pardiwala, with Ms. Vasanti Patel & Shri Apurva Shah (AR) Respondent by : Shri Chaitnya Anjaria and Sh. Manoj Kumar Singh (Sr.DR’s) Date of Hearing : 12.04.2018 Date of Pronouncement : 26.04.2019 ORDER UNDER SECTION 254(1)…

Asst CIT (Ltu) 2, Mumbai vs. Reliance Industries Ltd, Mumbai

Bench: S/Shri B.R.Baskaran (Am) & Amarjit Singh (Jm)

…n.com 332)(Mum). 72. Before the tax authorities, the assessee relied upon various case laws to contend that both the deductions could be claimed by it. Before us also, following cases were relied upon by the assessee:- (a) Associated capsules P Ltd vs. DCIT (332 ITR 42)(Bom) (b) ACIT vs. Grindwell Norton Ltd (32 CCH 177)(Mum) (c) Jindal Exports (P) Ltd vs. ACIT (31 ITD 217)(Delhi) 73. The ld A.R relied upon the submissions made before the tax authorities and contended that the assessee has not claimed any double deduction. He submitted that the amount of deduction claimed u/s 80IB(9) on the profit remaining aft…

DCIT Cir - 3(1), Mumbai vs. M/S. Gujarat Ambuja Cements Ltd., Mumbai

In the result, Revenue’s appeal is dismissed

Bench: Shri Saktijit Dey & Shri N.K. Pradhan

…te deduction under various provisions under heading “C” of Chapter–VI–A does not exceed the profits of the business. In this context, he relied upon the decision of the Hon'ble Jurisdictional High Court in Associated Capsules Pvt. Ltd. v/s DCIT & Anr., [2011] 332 ITR 42 (Bom.) and a number of other decisions as mentioned in the chart furnished before us. 148. The learned Departmental Representative, though, relied upon the observations of the learned Commissioner (Appeals), however, he submitted that the Assessing Officer may be directed to decide the issue keeping in view the decision of the Hon'ble Jurisdictio…

M/S. Gujarat Ambuja Cements Ltd., Mumbai vs. DCIT RG. 3(1), Mumbai

In the result, Revenue’s appeal is dismissed

Bench: Shri Saktijit Dey & Shri N.K. Pradhan

…te deduction under various provisions under heading “C” of Chapter–VI–A does not exceed the profits of the business. In this context, he relied upon the decision of the Hon'ble Jurisdictional High Court in Associated Capsules Pvt. Ltd. v/s DCIT & Anr., [2011] 332 ITR 42 (Bom.) and a number of other decisions as mentioned in the chart furnished before us. 148. The learned Departmental Representative, though, relied upon the observations of the learned Commissioner (Appeals), however, he submitted that the Assessing Officer may be directed to decide the issue keeping in view the decision of the Hon'ble Jurisdictio…

Zee Entertainment Enterprises Ltd, Mumbai vs. Asst CIT Cir 11(1), Mumbai

In the result, appeals are allowed in part for statistical purposes, in terms indicated herein above

Bench: Shri R.C.Sharma, Am & Shri C.N. Prasad, Jm

…Jurisdictional High Court, the decision of the Commissioner of Income-tax (Appeals) -3 was accepted and no appeal was preferred to the Hon'ble Tribunal. 5. I say that the Hon'ble Jurisdictional High Court in the case of Associated Capsules (P.) Ltd. Vs. DCIT 332 ITR 42 came to be passed on 10th January 2011 holding that the deduction under sections 80HHC and section 80IA was to be computed independently. Therefore, the legal position was resolved by the Hon'ble Bombay High Court in favour of the 3 M/s. Zee Entertainment Ltd., Applicant and the view of the Commissioner Income Tax (Appeals)-3 view was impliedly ov…